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Gold Miners ETF Challenges Major Resistance Level

Arthur Hill

Arthur Hill

Chief Technical Strategist, TrendInvestorPro.com

After lagging gold the entire year, the Gold Miners ETF (GDX) is trying to play catch-up with a surge to resistance. The December 2010 and April 2011 highs mark resitance here. Overall, GDX has been stuck in a range since October 2010 and a move above resistance would break this range.

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Arthur Hill
About the author: , 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. Learn More