Investing.com investing.com 22 Dec, 2020 02:45 am

Gold And Miners Not In Santa's Bag

Gold And Miners Not In Santa's Bag
Commodities Analysis by Sunshine Profits (Przemyslaw Radomski, CFA) covering: XAU/USD, Altaba Inc, Gold Futures, SPDR® Gold Shares. Read Sunshine Profits (Przemyslaw Radomski, CFA)'s latest article on Investing.com

The GDX ETF moved to its 50-day moving average – the level that kept its rallies in check since early October.Let’s keep in mind two things: Moreover, please note that the performance of the GDX ETF from late-November to now looks like an ABC correction.That’s almost exactly what happened – the GDX ETF rallied to $36.The next downside target for the GDX ETF is the February top in terms of the closing prices – $31.

52 in terms of the daily closing prices.50 in terms of the daily closing prices.

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