$GDX = Epic Bearish Event = 12.10.2022 #miners #gold $GLD #GDX #preciousmetals $gold @business @forbes @ft @wsjmarkets @cnbc @thestreet @seekingalpha @marketwatch

Today GDX registered a very strong bearish event. The 8 and 20 EMA quarterly lines made a bearish cross. The event, together with a few other indicators, signifies a change of the very long trend from bullish to bearish.

Previously, the same event happened in 2013. Following the event, GDX lost 73% of its value in 12 quarters (3 years). If the loss of such magnitude happens this time, GDX can end up with the single digit prices. For example, a 73% loss of today’s value of 23.8 targets 8$ (eight).

These types of studies are usually reserved for subscribers, but today there is no paywall. I hope that this post will help many investors to avoid humongous potential losses in the mining industry.

I was right on GDX by declaring a bear market for the stock two years ago, I was spot on about the miner all this time and I will be right about this call. Just be patient.

This is the long term chart (below) posted in November 2020 and the same chart today.

Good luck!

A bigger picture for $GDX and the other technical details were discussed in the latest Weekly Analysis:

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