Gold Miners Daughter
The Market Vectors Junior Gold Miners ETF(NYSE:GDXJ) is trading higher by 0.06 cents to $37.41 a share. The popular ETF of the smaller gold mining stocks has rallied sharply higher since August 5, 2011 when it traded as low as $31.62 a share. Traders can watch for intra-day support around the $36.85 level. Should the GDXJ rally or trade higher on the session the next important intra-day resistance level is around the $38.00 area. The daily chart for the GDXJ remains in good technical shape by trading above the daily chart 50 and 200 moving averages.
Some gold mining stocks that are part of the GDXJ include Allied Neveda Gold Corp Allied(AMEX:ANV), Hecla Mining Co.(NYSE:HL), and numerous gold mining stocks that trade on the Toronto Stock Exchange. The important daily chart resistance for the GDXJ is around the $40.00 level at this time.