GDX in Trade Zone

1 Nis 2016

I believe that GDX is stuck in a sideways trade zone. It will need to break through and close higher than 20.93 to signal a break upward momentum and possibly the start of a new trend. It could end up going as low as $12.90 in the next few months. If it breaks 12.90 it would signal the start of a new downward trend. Lots of turbulence right now making it hard to call an entry point. If it declines again a good entry might be 17.50.