21Apr3:48 pmEST

Testing Going Well

While the testing for CoronaVirus across the nation still leaves much to be desired, the gold miners in the GDX ETF continue to respond favorably to each recent test. 

On the GDX ETF daily chart, below, after being down 3-4% pre-market and despite silver taking a beating today, the senior gold miners are on track to finish the session flat/green. 

As you can see, the bull flag potential is enticing, as is the drop-off in volume the last few weeks which implies a calm, steady consolidation. 

Should gold be able to weather the oil deflationary storm and fallout I expect the GDX gold miners to finally uncoil higher and confirm this impressive relative strength to both the rest the precious complex (compared to gold, silver, junior gold miners, that is) and well as relative strength to other commodities, too. 

Essential (Unfinished) Busin... Swimming the Channel

 
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