GDX is Down 40% in 3 months
July 19, 2022
Since the recent high in mid-April, the large-cap miner etf is down over 40%! It’s been painful to hold, but even if they go lower, now is not the time to sell miners as they sit in a strong area of support on the weekly chart, and almost all technical indicators are screaming oversold. We took advantage and added to out GDXU and HL (Hecla mining) positions, and might add some more this morning as the miners closed yesterday’s trading with oversold stochastics on the 30 min bar charts as well. Below are the daily and weekly charts of GDX.
