Gold Miners ETF (GDX)

[kavy]

Check out the daily chart over a 3-year period. Support and resistance lines since January show a slow decline. Currently, this is trading right at the resistance line and the indicators (Slow Sto, RSI, Williams %R) are showing this as over bought and due for a correction back to support levels. I predict this will be hitting near 50's within 5-6 weeks.

OR, if this breaks the resistance then this could start trading entirely in the opposite direction due for a bullish rally.

We'll see, I'm very novice at predicting overall market trends, but my gut is saying one day this gold bubble is going to bust wide open.