CLICK ON CHART TO ENLARGE
One month ago Gold Miners ETF (GDX) had just experienced the best 3-week rally in the history of the ETF (Up 24% in three weeks)! (see post here) Aggressive Metals members were on board for this historic rally, due to buying on support. The rally took GDX up against the top of a falling channel that has been in play the past couple of years.
Metals members harvested holdings (sold) as this resistance line was being hit ( middle chart). Since then GDX is down around 9%. Bulls make money, Bears make money and Pigs turn into ball park franks.
From a long-term perspective, Gold, GDX and Silver remain inside of falling channels and each hit resistance (Red Arrows) and has backed off since.
If you would like to receive Power of the Pattern
research on Gold, Silver, Copper and Miners