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One month ago Gold Miners ETF (GDX) had just experienced the best 3-week rally in the history of the ETF (Up 24% in three weeks)! (see post here) Aggressive Metals members were on board for this historic rally, due to buying on support. The rally took GDX up against the top of a falling channel that has been in play the past couple of years.
Metals members harvested holdings (sold) as this resistance line was being hit ( middle chart). Since then GDX is down around 9%. Bulls make money, Bears make money and Pigs turn into ball park franks.
From a long-term perspective, Gold, GDX and Silver remain inside of falling channels and each hit resistance (Red Arrows) and has backed off since.
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