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Rob Isbitts

A ‘Golden Dome’ Has Formed on the Chart of This Gold Mining ETF. The Bull Rally in Precious Metals Has Run Out of Steam.

Gold ETF Mining Rob Isbitts GDX

I saw this chart of the VanEck Gold Miners ETF (GDX) and my first thought was “golden dome.” The same name President Donald Trump plans to apply to a new defense system, similar to that which has protected Israel for over a decade.

So I scribbled that name on the weekly chart shown below. Beyond the rounded top, the percentage price oscillator (PPO) indicator at the bottom looks very weak.

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