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Today we will be covering...
Today, we will examine the gold miners ETF, GDX.
GDX Cycles
Subscribers from 2023 might remember that in early 2024, I made a super bullish call on $GDX ( ▼ 2.31% ).
The call was based on cycles.
Fundamentals also played a significant role, as GDX at that time failed to respond to the already substantial upside move in GLD.
Now, cycles are warning that GDX may go through a multi-month correction, just as I expect for gold.
GDX has good support in the about 50 range.
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