In the comment section below a post made earlier today, I was asked if I would consider going long the miners, should they break above the recent “high & tight flag/pennant” that appears to be forming in GDX. My answer was no (along with a brief explanation which can be viewed under that previous post) and this video covers in more detail as to why I still believe the R/R for going long the miners at this time is unfavorable.
The video focuses on the long-term (1o-year weekly) charts of GLD, GDX and the 3 largest components of GDX which account for over 1/5th of the returns in GDX. Several long-term upside price targets as well as potential pullback targets in these ETFs & individual mining stocks are highlighted as well as a ideal scenario that could play out in the coming months (which would be near-term bearish but longer-term bullish).