Gold Miners ETF (GDX)

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::: GOLD Update :::
By Erin Heim | May 2, 2017

GOLD: As of 2/3/2016 Gold is on an Intermediate-Term Trend Model BUY signal. The Long-Term Trend Model, which informs our long-term outlook, is on a BUY signal as of 4/11/2017, so our long-term posture is bullish.

Gold is nearing support along the rising bottoms trendline that forms the bottom of a rising trend channel. The OBV bottoms are showing a positive divergence with price bottoms which could be telling us that support will hold. However, the bearish PMO and low SCTR have me concerned that support will not hold. If that is the case, look for Gold to move as low as $1200 and GLD to move as low as $115.



http://stockcharts.com/articles/decisionpoint/2017/05/dp-alert-resistance-hit-and-held---energy-sector-lt-sell-signals.html

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