Gold Miners ETF Gets a Momentum Breakout

The Gold Miners ETF (GDX) is reacting to strength in gold with a gap and 2+ percent surge. The chart below shows GDX forming a wedge above the 50 and 200 day moving averages. The ETF gapped up within this wedge and StochRSI surged above its July highs for a momentum breakout. A follow through breakout at 27 would be bullish for GDX.


Click this image for a live chart

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