For the first time in years, Gold Miners ETF (GDX) is attempting to use old resistance as a price point to spring higher off of!
This chart from Marketsmith.com reflects that GDX has remained inside of trading channel (1) for the past 7-years.
Recently it broke above the top of the channel and some selling pressure now has it testing old resistance as new support at (2).
This new support level would be an ideal price point for GDX to spring higher from!
