Commodities Analysis and Opinion
The Downside Levels in Gold and Gold Miners
2023.04.25 05:01
In this video, we focus on the key support levels in , GDX (NYSE:), and VanEck Junior Gold Miners ETF (NYSE:) that could come into play this week.
Gold closed last week at $1990. It has support at $1950 and $1900. Also, watch the 50-day, 100-day, and 150-day moving averages, as they could help mark a secondary low over the next few weeks.
GDX and GDXJ have corrected 8% and 10%, respectively. They could have another 5%-7% downside to strong short-term support targets.
