Gold stocks are showing short-term consolidation, but should they break resistance, another bullish leg could be sustained, pushing the VanEck Vectors Junior Gold Miners ETF (GDXJ) up to 60% higher in a few months, said Chris Vermeulen, chief market strategist of Technical Traders.
The gold bullion is seeing similar price action, and chart patterns point to a $2,100 to $2,300 by year-end.
In this interview, Vermeulen breaks down the trend lines and technical indicators he's analyzed to make his forecast.