This Mining Stock Much Stronger Than GDX

The past year has been rough for Gold Mining stocks, as Gold Miner ETF (GDX) has declined over 30%, in the chart below. Below compared GDX to Freeport Mcmoran (FCX) over the past year, reflecting a large difference in performance.

Over the past year, GDX has been a good asset to avoid from a buy and hold basis and our members have. The chart below looks at the FCX/GDX ratio over the past 5-years. 

Since the start of 2016, the ratio has created a series of higher lows. Rising support was hit of late and turned higher again. The ratio is now attempting a breakout above falling resistance at (1). This move higher continues to reflect that FCX is acting stronger than Gold Miners (GDX).