Gold Miners: The Key Point to Watch
Forget the 200-day moving average. While it is important, clearly the 400-day moving average has been a much better indicator for the gold miners.
GDX closed at $20.78. The 400-dma is at $22.43. If GDX can test it, it would mark the third test in the past 10 months. That tells me a transition from bear to bull is ongoing.
![may13.2015GDX400d](https://thedailygold.com/wp-content/uploads/2015/05/may13.2015GDX400d1.png)