MARKET VESTORS GOLD MINERS
(GDX-NYSE):
Technical Viewpoint: From a low
of $52.69 on Feb 16, 2012 prices
rallied, reaching a
high of $57.91
on Feb 29, 2012. A
decline saw prices pull back, reaching a
low of
$39.25 on May 15, 2012.
Another rally saw prices penetrate
resistance, closing 6/1/12
at $46.58. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jun 3, 2012 when the solid line crossed the dotted line to the upside.
Support: Remains at $44.78. Resistance: Is at $46.90.
Point & Figure: Reversed to the upside on Jun 3, 2012. A P&F upside
reversal takes place at $43.00. Summary: Technical indicators have turned bullish. BUY! Market Vestors Gold Miners
(GDX-NYSE) @ $47.12 Stop: Use a protective stop of $44.50.
Market Vestors Gold Miners is currently trading @ $46.58 plus $2.80 on Jun 1, 2012. Price Objective:
$57.00. Risk/Reward: $2.62 VS. $9.88. Today's Risk Reward Ratio: 4:1
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