#GDX vs SPY
Gold miners testing an important level of horizontal support vs. the SPY (relative chart). If it fails to hold 0.062, we could get further underperformance from gold miners relative to SPY. On the contrary a hold of this support and we could see gold miners start to outperform the general market. For that to happen it would be important to see a reversal form off this support (not happened yet).
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