GDX is flirting with an important level that marks the breakout area from last year's massive sell off. Looking left we can see this level has a bit of history. Resistance in the 33-34.50 area is heavy but I think we are headed higher. Sentiment is awful and RSI is telling me something is amiss. If the Fed doesn't accelerate its tapering program gold could catch a bid.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.