Gold Miners ETF (GDXJ) has declined nearly over 60% in the past 8-years. Is the bear market in GDX about to end? Let’s investigate why GDXJ is testing one of the most important price zones in years!

GDX has created a series of higher lows along line (1) over the past few years. It has created a series of lower highs along line (2) over the past 8-years.

Last year GDXJ broke above line (2) for a few months at (3). Weakness after the breakout has GDXJ testing line (1) and (2) as support at (4) this week.

Joe Friday Just The Facts Ma’am- GDXJ is facing one of the most important support tests in years at (4). This could become a rallying point for GDXJ! 

Aggressive miners traders will find this to be a rare place that they can establish a long position with a tight stop just below the dual support test at (4).

Joe Friday additional thoughts; should GDXJ break below support at (4), look for it to trade much lower! This is a very important price zone for miners!!!

If ideas in Gold, Silver, Copper and the mining sector is of interest to you, our weekly Metals Research report would be of value to you. Check out membership details HERE.



How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past