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Market Vectors - Gold Miners ETF Set to Possibly Pullback After Yesterday's Rally of 2.52%

By James Quinn

Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $30.02 to a high of $30.73. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $30.09 on volume of 30.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Market Vectors - Gold Miners ETF on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.72. Since that recommendation, shares of Market Vectors - Gold Miners ETF have risen 20.3%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Market Vectors - Gold Miners ETF share prices have moved between a 52-week high of $30.73 and a 52-week low of $12.40 and are now trading 148% above that low price at $30.70 per share. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.2%.

Keywords: rebounders amex:gdx market vectors - gold miners etf

Ticker(s): GDX