It is rare for an entire sector to be as deeply oversold as the gold miners have been for such an extended period of time. However, such marked underperformance sets the stage for a powerful countertrend rally - even after today's sizeable gains, gold miners are poised for at least another 15-25% of upside:

Click to enlarge

GDX

GDX_7.11

GDXJ

GDXJ_7.11

ABX

ABX_7.11

Some additional perspective as to just how deeply oversold the gold mining space has been:

HUI (Gold Bugs Index)

HUI_monthly