My indicators are pointing to short term weakness in this ETF. A break in the 200 ma last week while this moving average is declining is very bearish. When you add in the price/volume action here, I think you have good risk/reward to the downside. You can play this via GDX, or individual miner stocks like RGLD, GOLD,  or NEM.

gdx

3 Responses to “Troubled Miners”

  1. newbie Says:

    Just for fun, I will take the opposite side of the GDX trade. Chart looks bullish to me?

  2. newbie Says:

    yeah. I am looking more long-term by the minute and your call is looking like the right one!

    best.

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