Gold Miners at Key Resistance

05/13/2009 9:55 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

The Market Vectors Gold Miners ETF (GDX) was strong Tuesday, closing at converging resistance in the $39 area on good volume. The next band of resistance lies in the $44-$46 area, and stronger resistance is in the $50-$52 area. There is first chart support in the $36-$38 area. GDX is now acting better than GLD.

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