Isn’t that the truth, Ben! GDX sure doesn’t like to provide easy entries & exits, so closing just below resistance only to gap up well beyond it the next day would serve to deny an objective entry to those wanting to get long as well as trapping any shorts that with stop-loss orders set to trigger if GDX crosses back above that resistance level. That’s one reason that I mentioned a scale in strategy last week vs. waiting for an all-or-none buy signal/full position entry.

Even if GDX is at or close to a bottom, I can see the possibility that it grinds around in a relatively choppy range for a while but I can just as easily (and lean towards) as fairly swift reversal soon. G-luck if you are long or plan to be soon.

Good point GIR & something that I should have added to this post: Those potential bullish divergences on the daily time frame will be confirmed on just about any upside on GDX after today, further adding to the case that a meaningful trend reversal (bottom) may be close at hand or already in progress. Thanks for pointing that out.