The focus for many investors so far in 2015, especially those in the currency markets, has been to shift capital into physical assets such as gold. Struggles in Eastern Europe, the removal of the currency peg between the euro and the Swiss franc and recent news of quantitative easing in the Eurozone have acted as catalysts for a flight to stability and safety. As you can see from the spot price of gold below, the strong move (nearing 10%), so far in 2015 has sent the price of gold toward a key level of resistance, which if broken will trigger a significant shift in momentum. In the article below we’ll take a look at a few key charts to determine if this is just the beginning for a move higher in gold. (For more, see: 6 Reasons Gold Could Go Higher .)

Looking To The Gold Miners For Clues

Stronger gold prices significantly influence the profitability of the gold mining sector since many players have removed their hedging programs in an attempt to profit from higher prices. One of the most popular exchange traded funds used by traders to track this segment is the Market Vectors Gold Miners ETF (GDX ). So far this year the fund has surged 20.51% and as you can see from the chart below, it is also facing key levels of resistance similar to that of the spot price of gold above. Traders will undoubtedly be keeping a close eye on the combined resistance of the nearby horizontal trendline (blue dotted line) and the 200-day moving average (red line). These levels have acted as key pivot points in the past and a break above $22.62 would put the momentum on the side of the bulls. (For more, see Are The Hated Gold Miners Finally A Buy? )

Trading The Junior Miners

For risk-seeking traders, one group of stocks that may warrant a closer look is the junior miners. As you can see from the chart of the Market Vectors Junior Miners (GDXJ ) ETF, it is currently trading within a defined double bottom pattern. Active traders will use the pattern to suggest that the downtrend is in the process of reversing and many will use a move above the dotted trendline to confirm a breakout. (For related reading, see: Trading Double Tops And Double Bottoms .)

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When setting a target price, many traders will use the height of the pattern of $8.32 ($29.56 – $21.24) and add it to the breakout point of $30.00. In other words, aggressive traders will be looking for a move of approximately 27.7% to the upside once the bulls are able to send the price above the nearby resistance. (For more, see Golden Dollars: A Look At The Junior Miners .)

The Bottom Line

For aggressive traders, several key exchange traded funds that may be of specific interest include: the Market Vectors Gold Miners ETF and the Market Vectors Junior Miners. It is important to note that each of the charts analyzed above are trading within defined downtrends and are closing in on significant levels of resistance. A reversal in the downtrend and a shift in long-term momentum will only occur once the bulls are able to send the prices above the dotted resistance levels. Buy-stop orders may be one of the tools that traders start to utilize as they anticipate a break to higher levels. (For more, see: Does It Still Pay To Invest In Gold? )