Miners have been a tough trade lately, especially for bulls like me that had become accustomed to shallow retraces. I'm treating this bounce as a corrective rally unless an impulsive move takes out HUI
286.05 strongly. Targets for yellow waves (3) through (5) will have to wait for confirmed completion of wave (2). White wave 3 of (3) could be expected to reach 463, hold 332 in wave 4 of (3), then stretch to at least 645.75.
Remember, the placement of labels are meant to suggest price targets, not timing.
Similar patterns are possible on the GDX
ETFs as well as a large number of individual mining stocks.