GDX (Gold Miners ETF) or NUGT (3x Bullish Gold Miners ETF) looks poised for a run to the 21.80 level (or 17.20 on NUGT) should both GDX and GLD break above this falling wedge/contracting channel patterns.  GDX has pulled back to dual, intersecting support levels (horizontal + uptrend line) & could also offer an objective entry here for both a S/T bounce trade as well as a longer-term swing entry with the appropriate stops below. As an official trade idea, GDX/NUGT will trigger a long entry if & when both GDX & GLD break above these 60 minute downtrend lines.

For short-term traders looking to just trade a quick bounce lasting a few days for less, NUGT (3x long gold miners ETF) looks good to about the 17.20 area (about 16% above current leves), should GDX bounce off this support level. The commensurate near-term bounce targets for GDX are 21.80 (resistance) and 119.40 in GLD, then 120.35-50 (bottom & top of gap support). Suggested stop somewhat below 20.30-20.20.