The Market Vectors Gold Miners ETF (NYSE:GDX) is trading lower this morning by 0.02 cents to $56.09 a share. The GDX will have short term intra-day support around the $55.79 level. Should the popular gold mining ETF slide lower traders should watch the $55.25 area as the next important intra-day support area. Both levels could see small intra-day bounces.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.