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Can Gold Miners Find Support?

|Includes: VanEck Vectors Gold Miners ETF (GDX)

Gold miners have been beaten senseless for the last year, so calling a bottom is a widow-maker's game. I'm not calling a bottom. However, it is worth noting that GDX has formed an inverted head and shoulders (for the moment). Should the miners show some life in the coming days, it may be worth keeping an eye on. GDX would need to rally over 10% to break above the neckline and build some offensive mojo.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.