GDX has gapped down to the 1st price target/support highlighted recently, including in yesterday’s video, taking out the dual uptrend line + 39.88 price support in the pre-market session earlier today. This 5% drop is what I warned of yesterday regarding a large cluster of stops likely to be hit once that trendline & intersecting price support was taken out. Any bounce back near 39.88 would offer an objective add-on or re-entry as would a solid break below T1, ideally after a reaction here first. Daily chart below.
GDX daily Nov 6th