GDX and GOLD MINERS, Breakout?

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While I'm expecting gold to test $1100, I respect the technicals (always) and this AM there is a clear breakout in GDX ( GDX , quote ) and a new high, confirming that the recent pullback was shallow. Image courtesy Bullion Vault: http://www.flickr.com/photos/bullionvault/

My technical guru and partner, Diego, points out that the clear breakout over the 20d and 50d was a quick +18%.

See chart, at the very least we should be testing the 200d around $25.92 over the next few weeks.

Use a $22 to $21.50 STOP depending on how tight you want to run it! sg2014011735057



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , International , Stocks

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