I’m seeing a buy setup for aggressive traders in the Gold Miner’s ETF (GDX). Momentum from both Twitter and StockTwits has confirmed the recent short term rally in GDX. After several weeks of consolidation, momentum is now breaking higher. This creates a low risk long opportunity in GDX. The signal will close if the confirming uptrend line from momentum is broken to the downside.
Premium members will want to take a look at the social media momentum charts for gold (GLD), junior minors (GDXJ), and silver (SLV). Look to see if they’re confirming GDX for a higher probability trade.
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