Upside Seen For The Gold Miners ETF (NYSE:GDX) To It’s Triple Top Level

“The Market Vectors Gold Miners ETF (NYSE: GDX) – This ETF, which attempts to replicate as closely as possible the price-and-yield performance of the AMEX Gold Miners Index, is in a bull market with the support line and the 200-day moving average at $48.  This has been a successful trading stock for the COD throughout last year. Again, (NYSE:GDX) appears to be in a buying range with a trading target of $54 — a triple top.  Note the buy signal from the stochastic and declining selling volume.  If the triple top is broken, look for a long-term target of $75,” Sam Collins Reports From Investor Place.

gdx chart

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