The gold miner ETF of GDX saw a net March gain of +$3.97 (11.5%) to $38.35.
GDX, monthly
Summary
The miners saw bullish follow through, spiking
to $40.26, if cooling back to settle powerfully higher at $38.35. The February break above m/t declining trend has been fully confirmed. I
would note the 10MA at $32.61, which was again decisively settled above, as the m/t trend is bullish. Monthly momentum will turn positive at the April 1st open, with next target of the Aug'2020 high of $44.76.
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Three of the key miners...
Newmont (NEM), monthly
Newmont lead the sector upward, breaking a new historic high of $81.14, with a net March gain of +$13.72 (20.9%) to $79.45. I
would note the monthly 10MA in the $60s, which was again settled
above. Monthly
momentum has turned positive.
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Barrick Gold (GOLD), monthly
Barrick Gold climbed for a sixth consecutive month, settling +$1.96 (8.7%) to $24.53. Momentum is due to turn positive as of April 1st. Next target is psy' $30. A push above the
Aug'2020 high of $30.47 will likely require Gold
at least >$2100.
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First Majestic Silver (AG), monthly
First Majestic saw a net March gain of +$1.93 (17.1%) to $13.16. March settled above the 10MA. Things turn decisive >$15.00.
--Of the three, yours truly currently favours GOLD.
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