Gold Miners Try To Break 5-Year Trend

Published 09/21/2016, 10:24 AM
Updated 07/09/2023, 06:31 AM
GDX
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GDXJ
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Gold Miners have done great this year amid a bit of a challenge since the highs in 2011.

The chart below looks at the ratio between the Junior (NYSE:GDXJ) and Senior Miners (NYSE:GDX) over the past 6 years.

The Miners

The ratio remains in a 5-year down trend, creating a series of lower highs and lower lows.

The ratio is testing a triple breakout point at (1) above.

If the ratio breaks out, it would send a positive message to the long-term, hard-hit mining sector.

This is the most important price point for the miners -- since the second lower high -- back in 2011.

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