GDX - miners find an escape route?

With Gold and Silver opening lower, the miners were similarly lower, but the morning reversal held into the close, and GDX put in an impressive daily reversal, closing +6.2% @ $28.00.  If the metals have indeed floored in the immediate term, then GDX will continue to rebound.


GDX, daily

Summary

A strong day for the gold miners - with a rather good bullish engulfing candle, but GDX is still below key declining resistance.

To have any confirmation of today's daily reversal, mining bulls need to see a few daily closes >$30. A break above $30 will open up the 35/36 zone.
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Mid/long term trend remains extremely weak however, and we've seen this kind of bounce a fair few times in the past ten months.

Good long-stops will be important, the obvious level are the low $26s.