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[123tom]

GDX chart

GDX Daily

Looking for a pullback to retest the Fib target area 36-30
maybe 33.50 as buy target zone

This has been a Math pattern from bottom to top. Bottom zone 17-20 area. shaving down the plunge bottom as excessive. looking at the balance point, the secondary low, for my better measurement, its just a tecnique for examination. To find the true targets. so lets say 20 to 46 and you get 33 in the middle for the target zone.
but this picture looks ok to my eyes, IF we see a normal retrace for GDX.
I had this 46 target zone in sight many months ago. as a completed rally pattern. fibonacci math pattern.