There was a massive sell off across the precious metals market today.
Gold posted an outside bar to the downside today. Outside bars need to be respected because they are often an indicator of future direction.
Silver had a similar formation.
The miners sold off in dramatic fashion. The theme for the miners is simple.
Notice that there are two gaps on the GDX chart. The first gap was filled today, so look out for more downside action to fill the earlier gap. Gaps in the chart are not always filled but more times than not they are.
The good news is that if you can find some physical gold and silver better prices may be on the horizon.
Peace out and stack on.