Gold Miners Continue To Shine

The leading gold mining stocks have been bouncing higher since May 16, 2012. This morning, the Market Vectors Gold Miners ETF (NYSEARCA:GDX) is trading higher by 0.93 cents to $42.55 a share. Short term traders should watch for intra-day resistance around the $43.00, and $43.50 levels. Traders and investors must remember that the GDX is still trading below the important daily chart 50, and 200 moving averages, this technical position still puts the important ETF in a weak technical position.

Some of the leading gold mining stocks that are trading higher today include Yamana Gold Inc. (USA) (NYSE:AUY), NovaGold Resources Inc. (USA) (NYSEAMEX:NG), and Agnico-Eagle Mines Limited (USA) (NYSE:AEM). All of these leading gold mining stocks are holding up very well on an intra-day basis. Please remember, most of the daily charts of the gold mining stocks are still very vulnerable to declines after this short term bounce concludes.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

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.

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