GDX rady to reverse

GDX – the VanEck Vectors Gold Miners ETF – is currently moving on its50-day exponential moving average just above the lower Bollinger Band. What is more, GDX is also testing the blue support line.

Apart from that, however, MACD is moving below its signal line, which tells us that momentum is weak.

GDX’s Relative Strength is also weak, as it moves below its 20-day exponential moving average, despite indications that it may trend up in the next few days.