The Gold Miners ETF (GDX) is in for a big test as broken resistance turns into support. GDX broke resistance around 41-42 with a big surge in September. This level turned into support, and held, in early October. After a sharp decline the last two weeks, GDX is once again testing this important level.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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