VanEck Gold Miners ETF
Investment Thesis
GDX carved out a potential double bottom at the $70 support zone — tested twice within six weeks — and has snapped back +8.4% over two sessions on expanding volume. The MACD histogram just crossed into positive territory and a bullish RSI/MACD divergence flags selling exhaustion. The primary trend remains bearish (death cross, price below both SMAs), but the tactical setup favors a bounce toward SMA200 at $87.54 with SMA50 at $81.20 as the first checkpoint.
Catalysts to Watch
GDX bounced sharply off the $70 support zone for the second time in six weeks (double bottom), surging +8.4% over July 21–22 on above-average volume, while the MACD histogram crossed into positive territory (+0.365) and a bullish RSI/MACD divergence emerged at the lows.
Why It May Work
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Timeline
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