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Tuesday, November 19, 2013

GLD and GDX 11/19

I have not looked at GLD and GDX in a while.  Here is the GLD daily chart first.

It looks like GLD has formed another down trending channel over the last few months.  It is currently near the middle, but looks like it could be on the way to the lower rail.  Here is the GDX daily chart.

Interestingly GDX also looks to be in a down trending channel.  Are both of these headed back to the lows?  Clearly they need to break the upper channel lines before becoming longer term bullish.  I don't know if they are going to continue down from here, but it is a distinct possibility.


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