Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Gold Miners Testing 12-Year Support, After 50% Decline

Courtesy of Chris Kimble

Gold miners ETF (GDX) failed to break above resistance on its 4th try a few weeks ago at (1), and then it was met by a large degree of selling pressure.

After hitting this resistance, sellers stepped in and drove it down nearly 50% in just a few weeks.

The decline took GDX down to line (2), which has been an inflection point for a few highs/ lows over the past 12-years at (3).

GDX has spent the majority of the past 9-years trading between line (1) and (2), as GDX is testing the bottom of its trading range this week at (3).

Potential nice entry point around the $16 level. Keep this in mind from a risk management perspective, If this support level fails to hold, GDX could retest the $13 level (2015 lows) in short order.

To become a member of Kimble Charting Solutions, click here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!