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Market Vectors - Gold Miners ETF Crosses Above its 10-day MA (GDX)

By Amy Schwartz

Market Vectors - Gold Miners ETF (AMEX:GDX) crossed over its 10-day moving average of $23.91 on a volume of 20.2 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Market Vectors - Gold Miners ETF has traded in a range of $12.40 to $26.17 and is now at $24.25, 96% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Market Vectors - Gold Miners ETF on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.89. Since that recommendation, shares of Market Vectors - Gold Miners ETF have risen 57.3%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:gdx market vectors - gold miners etf

Ticker(s): GDX