Gold Stocks at Resistance – Potential Pullback

Technical update (Aug 22) confirms gold and gold stocks in uptrend but notes gold stocks at resistance (GDX $110-$115). RSI overbought suggests a potential pullback. A recent gold price forecast adds near-term support/resistance levels and notes the 5% rally may face headwinds. Investors advised to trim positions near $115. This adds a cautionary note to the bullish momentum.