Perfect backtest of GDX long term resistance adds fuel to miners
Backtest of the GDX long term trendline has occurred at approx 32.5. It has held up till now which confirms the bullish uptrend in the miners and will add a lot of fuel to the next leg higher. However if it does not close thise week above 32.5, expect miners to head much lower. I do not think this will be the case.
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Disclaimer
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.