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$48 Should Be Top In GDX

|Includes:VanEck Vectors Gold Miners ETF (GDX), GLD

I wrote this yesterday, here's an updated chart of XGD for Canadian Investors that better illustrates key resistance levels I'm watching.

Nice rebound in the metals today and I think we could have a little more upside before it rolls over. $48 is my target where I think it'll run out of gas and correct as there are multiple points of confluence of resistance. I'll be looking to add a short position in GOLD tomorrow, with a possible position in ANV.

Stocks: GDX, GLD