As you can see GDX has been beaten down for years. Now its time to go long. We just crossed over 21 Month MA. Its bullish at this point and looks like it will hold(as gold is acting very bullish and getting attention from main stream Media). Last time GDX was able to close above 21 Month MA, was June 2017. Heading in to 2008 people where buying gold and selling the dollar and soon as Crisis hit investors sold gold and bought the Dollar. This time the opposite is happening. So expect Gold and Gold Miners outperform everything this time around.
Also another indication is the False Break Down done by institutions. They like to play Bearish Pasterns to load up on stocks without making the price go higher.
Also another indication is the False Break Down done by institutions. They like to play Bearish Pasterns to load up on stocks without making the price go higher.