Junior Mining Stocks Eye Breakout

Published 12/20/2017, 10:19 AM
Updated 07/09/2023, 06:31 AM
GDX
-
GDXJ
-

VanEck Vectors Junior Gold Miners

Both the Senior (NYSE:GDX) and Junior Miners (NYSE:GDXJ) have had a rough go of it the past year, far underperforming the broad markets. No doubt about it, the trend remains lower for each.

This decline over the past 14 months has taken GDXJ down to line (1), which has been support/resistance several times over the past two years.

GDXJ hit line (1) three weeks ago when it created a small/bullish reversal pattern. The recent small rally has the juniors trying to break above short-term falling resistance at (2).

If a breakout takes place at (2), it could attract some buying pressure. IF this happens, the next key overhead resistance level comes into play at around $38.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.