Gold Miners Looking to Confirm the Bullish Breakout
GDX has broken out of multi-year triangle that formed a solid base since 2015. If gold continues marching towards all time highs, I think GDX can hold the breakout here. Perhaps it will cool off for a couple weeks after the rapid rise, but then I'm looking for the move to low $40's on the way to $60+
Positions:
GDX 1/15/21 40c
GDX shares
Reassess if falls back into the triangle (convincingly <$30)
Positions:
GDX 1/15/21 40c
GDX shares
Reassess if falls back into the triangle (convincingly <$30)