The Market Vectors Gold Miners ETF (GDX) Appears To Be In A Buying Range

“Market Vectors Gold Miners ETF (GDX) — This exchange-traded fund (ETF), which attempts to replicate the price and yield performance of the Amex Gold Miners Index, is in a bull market with the support line at $43 and the 200-day moving average at $44,” Sam Collins Reports From Options Zone.

Collins goes on to say, “This has been a recurring trading stock for the Trade of the Day throughout the past year. Following a run in September from $40 to $55, (GDX) pulled back in a series of steps until finding support at the 200-day moving average. It penetrated that major indicator, but then reversed and flashed a double Collins-Bollinger Reversal buy signal (our internal indicator), moving up through the three major moving averages (20-, 50- and 200-day) and an intermediate resistance trendline.”

“(GDX) appears to be in buying range with a trading target of $50-plus and a long-term target of $65. Gold futures flashed a strong buy last week, adding support to our trading target for (GDX),” Collins Reports.

Here are some details on the Market Vectors Gold Miners ETF (GDX) including some of the holdings within the ETF below:

The investment ETF (GDX) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the AMEX Gold Miners index. The fund generally normally invests at least 80% of its total assets in common stocks and American depositary receipts (ADRs) of companies involved in the gold mining industry. The fund is nondiversified.

Related posts:

1. Market Vectors Gold Miners ETF (GDX) Considering Options To Boost Revenue
2. Option Activity In The Market Vectors Gold Miners ETF (GDX)
3. Investors Get Excited For The Launch Of Van Eck’s Market Vectors Junior Gold Miners ETF

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