VanEck Gold Miners ETF
Investment Thesis
GDX is in a confirmed downtrend (death cross, -16% below 200-day MA) but has reached extreme oversold readings across every short-term indicator — RSI at 23.5, Stochastic at 9.1, and the miners-vs-gold ratio RSI at a historic 19. This is a tactical contrarian bounce setup, not a trend reversal call. The risk/reward improves significantly if GDX holds above the $71.89 intraday low.
Catalysts to Watch
GDX dropped ~16% in three weeks from a June peak of ~$87–90 to $73.53, pushing RSI to 23.5 and Stochastic to 9.1, while the GDX/GLD ratio RSI collapsed to 19.06 — a multi-indicator extreme-oversold confluence rarely seen outside major capitulation lows.
Why It May Work
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Timeline
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