The gold miner ETF of GDX saw a
net October gain of +$2.24 (7.6%) to $31.71. Multi-month price
structure offers a giant ABC bull flag.
GDX, monthly
Summary
October saw the miners push to $33.95, but cool back to $31.71. Ongoing short and mid term price action is still a bearish
leaning mess. Things turn interesting above m/t declining trend, which in November will be in the mid $36s. I
would note the 10MA at $33.46. Things turn decisive with a monthly
settlement above psy' $37.50, which looks realistic before year end.
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