GLD and GDX 4/4

I did not expect to be writing about these ETFs so quick.  In GLD and GDX 4/1 I wrote "If the current bounce is going to continue I think it is time GLD start moving up again.  This seems like a lazy bounce from a pretty extreme over sold condition at support.  I think it will need to test that Feb. low after this daily bounce finishes up. "  I guess the daily bounce was already finished up as GLD plunged to a new low right away.  Here is the daily chart.

GLD did not get to the 50 SMA or the upper channel line before retesting the late Feb. volume climax low.  This looks like a potential double bottom here.  Price is in an extended and oversold condition and the volume was well below the volume at the Feb. low.  Will the gold bulls show up here?  I think it is worth watching.  Here is the GDX chart.

GDX has had four really big volume climax lows.  How many does it take to make a bottom?  It had quite the rebound today on heavy volume.  That is probably a lot of short covering, but then that is how most bottoms are made in a sell off like this.

Both these charts look like potential bottoms.  They just need the bulls to show up here.  I will be watching closely the next few days to see what happens.

Bob