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GDX is expected to decline toward the $88-$90 zone in the coming weeks, making a bearish options trade attractive.
So, GDX, uh, I talked about gold feeling like it's powering out here. What if I wanted to put on a a a lowrisk trade to the downside over the next little while? Say I thought that um we were going to see a down tick and I'm looking at this chart and I'm saying, okay, you know, the stock is trading at $104.
You can see this over here on the on the left on Mumu. Uh, the prices are here. Um, what if what if I wanted to target a level down here, $88 or $90. What if I expected it to pull back to this kind of centralized centralized area right here where we saw a cluster of data on the way up these gaps kind of paused here.
So I think this would be natural for this to come back down and we might see this over the next couple of weeks.