The Canadian Technician

GDX - Head Shoulders Bottom?


GDX is an ETF that tracks gold miners.

In Canada the gold miner ETF  is XGD.TO.

GDX 20140110

The Gold miners are trying to turn up here. The turn is important as sentiment towards the gold miners ETF is very very low. If you like the miners, this is worth paying attention.

This is a 60 minute chart and the base looks to be 6 weeks wide.

Good trading,

Greg Schnell, CMT

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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