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Downtrend Broken Resist.Archive
- 7/31/2026 -
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Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
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| | It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -1.13 points, or -1.50%, and closed at 74.10 on Friday, July 31, 2026. Weekly volume was -28% below average.
 Long-term trend: [See GDX long-term trend chart]
A long-term downtrend had started on March 2, 2026 at 117.18 and reached 69.74 on July 17, 2026. GDX lost 47.44 points, or 40.48%, in 19 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (68.63) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GDX medium-term trend chart]
A medium-term uptrend had started on July 17, 2026 at 69.74 and reached 77.99 on July 22, 2026. GDX gained -8.25 points, or -11.83%, in 0 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 72.79 and resistance is at 76.61. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 13, 2026. The distance between MACD and the signal line is relatively high, but getting smaller. 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 July 30, 2026 at 76.81 and reached 72.92 on July 31, 2026. GDX lost 3.89 points, or 5.06%, in 1 days. The price is now at the 30.33% retracement level.
 Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 20, 2026. The distance between MACD and the signal line is low and getting smaller.
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