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Markets

Trade of the Day – Market Vectors Gold Miners ETF (GDX)

Market Vectors Gold Miners ETF (NYSE: GDX ) - This ETF, which attempts to replicate as closely as possible the price-and-yield performance of the AMEX Gold Miners Index, is in a bull market with the support line and the 200-day moving average at $48.

See Sam Collins' Daily Market Outlook here .

This has been a successful trading stock for the COD throughout last year. Again, GDX appears to be in a buying range with a trading target of $54 - a triple top.

Note the buy signal from the stochastic and declining selling volume. If the triple top is broken, look for a long-term target of $75.

gdx chart

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


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

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