GDX has broken out of multi-year triangle that formed a solid base since 2015. If gold continues marching towards all time highs, I think GDX can hold the breakout here. Perhaps it will cool off for a couple weeks after the rapid rise, but then I'm looking for the move to low $40's on the way to $60+
Positions:
GDX 1/15/21 40c
GDX shares
Reassess if falls back into the triangle (convincingly <$30)
Positions:
GDX 1/15/21 40c
GDX shares
Reassess if falls back into the triangle (convincingly <$30)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.