Will GDX Break Resistance At $38-39?

GDX, Market Vectors Gold Miners ETF, has been hitting the head against this price barrier ($38-39) since last August. It is trading at $38.70 right now, up $1.39 from yesterday.

The attempt to go above $39 is the 5th one since last August when the initial drop occurred. It is the third since the deep correction in October that took the ETF down to $15.83 (that was a buy if you were really brave, and hindsight is 20-20, and fish was big, and...); since then it is making higher lows and higher highs, but has retreated at around $38.

The ETF was created in May 2006 so there's not much there to check historical trends, but the stock spent the first year and a half oscillating between $33 and $43.

I have a very small position in GDX, which I bought at $33 and which I was planning on selling at the longer-term top range of $43. I'll see if it can muster strength to go past $39 this time.