Major Gold Stock ETF:GDX/No Breakout Yet *PIC*

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GDX has not yet broken out over important resistance of $48. Price must clear AND hold above $48 to suggest higher prices. Meanwhile "Resistance is Resistance." Even a breakout will see resistance nearby at the Fib 38.2% level and next resistance at $51. Lots of work ahead for the Gold stocks that have been underperforming Gold for years other than the odd brief bounce back. Investors seem to prefer the actual Gold ETFs to the stocks which have a multitude of issues attached to them unlike the pure Gold ETFs.

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