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Downtrend Broken Resist.Archive
- 5/2/2025 -
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Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -1.73 points, or -3.54%, and closed at 47.08 on Friday, May 2, 2025. Weekly volume was -15% below average.
 Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on October 4, 2023 at 25.62 and reached 53.25 on April 21, 2025. GDX gained -27.63 points, or -107.85%, in 80 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See GDX medium-term trend chart]
A medium-term uptrend had started on December 30, 2024 at 33.42 and reached 53.25 on April 21, 2025. GDX gained -19.83 points, or -59.34%, in 16 weeks. The price is now at the 31.11% retracement level.
 Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 7, 2025. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See GDX short-term trend chart]
A short-term downtrend had started on April 21, 2025 at 53.25 and reached 46.73 on May 2, 2025. GDX lost 6.52 points, or 12.24%, in 11 days. The price is now at the 5.37% retracement level.
 Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since April 24, 2025. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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