Since early 2008, Gold futures have risen almost 30% and are within 2% of all-time highs. Same story for the Gold ETF (GDX)? NO! GDX finds itself at the same price as 30 months ago, up against line (1) in the chart below.
With another ascending triangle at hand, odds favor an upside breakout. Since GDX has struggled so much at resistance, use the following game plan.
Plan A… Bring stops up tight to protect values. Plan B….If GDX can break resistance, the rally should be huge, since they have lagged Gold for so long! Be ready to own a larger percentage of this ETF due to how strong the breakout could be!!!