When Will GDX Break-Out?

by Jordan Roy-Byrne, CMT
The Daily Gold

If you follow our work, you are aware of our growing optimism on gold stocks in 2020.

As we’ve written, the fundamental setup in 2020 should be bullish for precious metals.

Meanwhile, the technical setup for gold stocks is one of the best we’ve ever seen.

Gold stocks (and GDX specifically) are consolidating in a bullish fashion within a nearly 7-year long base that, if broken, will give way to an explosive, impulsive advance. That would usher in increasing speculation, and most everything (including the turds) will fly.

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