The Only Chart of Gold Miners You Need

posted in: Gold, Gold Stocks | 0

Simple is usually more effective. The following line chart of GDX simplifies things and highlights the important stuff (trend and relative strength):


GDX (Daily)


Important observations from this chart:

  • Trend is clear, from the lower left to the upper right.
  • Relative strength (RSI-14) has almost always stayed above the median line since crossing back above it in late January.
  • GDX has only experienced one significant bout of selling this year (late May) while accumulation has been steady, and at times, vigorous.


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