Can Gold Stocks End The Downtrend This Month?

Published 06/12/2014, 01:16 AM
Updated 07/09/2023, 06:31 AM
GDXJ
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Check out this monthly chart of the Market Vectors Junior Gold Miners (ARCA:GDXJ) that contains the well-defined bear market downtrend that began in 2011. Notice how during these past 5 months, GDXJ has been pressing up against the upper end of the downtrend channel. We could see a breakout over the next month or two out of this bear channel. The increase in volume this year and MACD cross higher are also bullish.GDXJ Monthly

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