I’m planning to take my first position in GDX in a while as it approaches this support zone, scaling in from just above the top of the zone down to the bottom with stops somewhat below. As the circles on the RSI readings below 30 indicate, going long GDX when oversold on the 120-minute time frame has proved profitable in the past. I also plan to publish my longer-term bullish views on gold soon, either with static charts or possible in a video format. Unofficial trade idea for now with price targets TBD.
GDX 120-minute April 25th