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Downtrend Broken Resist.Archive
- 10/16/2026 -
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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 -1.57 points, or -1.76%, and closed at 87.71 on Friday, October 16, 2026. Weekly volume was -19% 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. Price is near the Fibonacci 38.2% 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 July 17, 2026 at 69.74 and reached 105.67 on August 25, 2026. GDX gained -35.93 points, or -51.52%, in 5 weeks. The price is now at the 49.99% retracement level.
 Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since August 14, 2026. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 August 25, 2026 at 105.67 and reached 82.46 on October 14, 2026. GDX lost 23.21 points, or 21.96%, in 50 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (81.38) 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 short-term trend.
Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since August 31, 2026. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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