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Countertrend Rally for GDX Gold Mining ETF


Tuesday October 7th, 2008
Countertrend Rally for GDX Gold Mining ETF
by Mike Paulenoff www.MPTrader.com
Countertrend Rally for GDX Gold Mining ETF
By Mike Paulenoff, www.MPTrader.com

My near-term technical pattern and momentum work in the Market Vectors Gold Mining ETF (AMEX: GDX) argues that a meaningful near-term low was established yesterday at 25.30 and that a countertrend recovery rally already is in progress that should propel price to at least 29.80-30.00 and thereafter to 32.00.

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