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Gold Miners Decline Nearly 30%, Currently Testing 15-Year Support Level! The past 8-months have been great for the broad markets, the same cannot be said for Gold Miners. Gold Miners ETF (GDX) has lost nearly a third of its value since peaking last August.

This decline has taken place inside a bullish rising channel, that started at the lows in 2015.

The 27% decline in the past 30-weeks has GDX testing a support/resistance line at the $30 level, that has been in play for the past 15-years.

It is critical for GDX to hold this support at (1).

If this support level does not hold, odds increase that GDX could end up testing its 5-year rising channel support near $22. https://www.zerohedge.com/news/2021-03-01/gold-miners-decline-nearly-30-currently-testing-15-year-support-level

Gold Miners Decline Nearly 30%, Currently Testing 15-Year Support Level! The past 8-months have been great for the broad markets, the same cannot be said for Gold Miners. Gold Miners ETF (GDX) has lost nearly a third of its value since peaking last August. This decline has taken place inside a bullish rising channel, that started at the lows in 2015. The 27% decline in the past 30-weeks has GDX testing a support/resistance line at the $30 level, that has been in play for the past 15-years. It is critical for GDX to hold this support at (1). If this support level does not hold, odds increase that GDX could end up testing its 5-year rising channel support near $22. https://www.zerohedge.com/news/2021-03-01/gold-miners-decline-nearly-30-currently-testing-15-year-support-level

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[–] • 0 pt

I know nothing about how gdx is set up, but if it is able to track gold again in the future then if you wanted to buy physical it might be smart to buy paper today and wait for the spread to shrink again.

There is always a chance that this will "be the time", but I would not say that it is likely.