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GDX Bullish Breakout and Seasonality Trend

Written By: ChartChamp

August 16, 2024

I posted about GDX many months ago, I have been patiently waiting for a bullish breakout above the yellow trendline. Looks like we are seeing a bullish breakout, and I have the red resistance zone as a key target between $39.68 and $41.33. I would monitor that zone for resistance on the way up.

GDX’s seasonality trend is bearish in September, but bullish in October and December. November is neutral but slightly bullish as well. Keep this trend in mind over the next few months. Gold could benefit from a stock market crash, I think gold is the only true safe haven asset that has been tested throughout history. Bitcoin has not been tested and is still to be determined.

Follow me on social media: https://linktr.ee/realchartchamp

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