Gold miners have been in a prolonged bear market, but the senior miners (GDX) have still traded in a technically sound downward channel. Currently GDX is out of the lower BB for the 4th week (by far the longest during this bear market). GDX also happens to be sitting right on the downtrend channel support that has held since 2013. If gold miners are going to make a bounce here would certainly be a logical spot for it. The previous 3 instances of testing the lower channel two had sharp snap backs almost immediately the other traded along the bottom for 3 weeks in a tight range before making a move higher. There is nothing saying there will be a rocket of the bottom this may take time to play out. But in trading patience is often rewarded. The other key to the miners story is the metals themselves gold is on the verge of breaking the downtrend on a daily from the recent selloff. Until gold gets over the 1100 level I am not interested in trying to pick the bottom. In the members section I take an in-depth look at the miners and gold on a regular basis. I look forward to seeing you inside.