GDX 30-Week Moving Average Turns Up

The 30-week EMA on GDX is now rising again after briefly changing direction in early February.  What is the significance of this?  A rising market above a rising 30-week moving average is the definition of a Stage 2 uptrend or a bull market.  So we’re once again at the cusp of a new bull market in gold stocks.  Notice how the money flow didn’t go negative on this latest failed breakdown in GDX either.  As I’ve stated earlier I think this has failed move lower to fast move higher written all over it.Visit StockCharts.com to see more great charts.

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