Traders Take Note: This Is Where $GDX Will Collapse, And It Is Coming Soon

Gold miners have soared in 2016, far outpacing the price of gold. Gold has rallied approximately 25% in 2016 while the gold miner ETF GDX is up 150%. This huge disparity definitely tells smart investors that these stocks (gold miner ETF) will drop back to reality. However, the question is when?

 

Based on technical support levels, the key is a break of $29.40 on the daily chart of Market Vectors Gold Miners ETF (NYSEARCA:GDX). A daily close below $29.40 would trigger a massive sell, bringing the GDX to $27.70. This is a fantastic opportunity for traders willing to be short gold miners that also have the patience to wait for this break down.

 

Note the chart below to see the trend line that will dictate the major break lower…

 

If you want to be alerted to the exact trades that Gareth and Nick are taking live when the action happens, then enter the Research Center here for FREE. Also, take note of the documented track record of every single trade members have received over the years – no one can compete with the verified performance of our Pros, its that simple.

 

Gold miner ETF GDX is nearing a major break down on the stock chart

 

Gareth Soloway

http://www.InTheMoneyStocks.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: