Junior Mining Stocks Attempting Breakout

By Chris Kimble / December 20, 2017 / kimblechartingsolutions.com / Article Link

CLICK ON CHART TO ENLARGE

Senior (GDX) and Junior Miners (GDXJ) have had a rough go of it the past year, far underperforming the broad markets. No doubt about it the trend remains lower for each.

This decline over the past 14-months has taken GDXJ down to line (1), which has been support/resistance several times over the past two years.

GDXJ hit line (1) three weeks ago, where it created a small/bullish reversal pattern. The small rally of late has GDXJ attempting to break above short-term falling resistance at (2).

If a breakout takes place at (2), it could attract some buying pressure. IF this would happen, next key overhead resistance level comes into play at the $38 zone.

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok