How much lower? The junior miners have been sliding since mid-September and now look primed to dive anew. If buyers are going to save the day, they’ll have an opportunity at 20.96, the Hidden Pivot midpoint support shown. If it’s breached by more than a few pennies, though, we should brace for more downside over the near term to as low as 19.36, its ‘D’ sibling. That would represent an 8.8% fall from current levels within a bear market that has already seen lows as low as May’s 17.37. _______ UPDATE (11:00 a.m. EST): GDXJ has traded as low as 20.88 this morning. Although that’s just eight cents beneath our minimum downside target, it’s probably enough to doom the stock to further slippage to at least 19.36.
