Chart of GDX
gdx flag.PNG 35.78KB
What you see in this chart is a drop from a bear flag and it is a simple A<B<C correction.
The measurement of A is from the high 28.03-23.27=4.76
B was the up move inside a bearish flag.
C will be your drop from inside your bearish flag.
Hence your C down should finish @20.58
The high $1331.10-$259.89=$1071.21
Note i gave a minimum estimate of $1331.
Futher i have noticed from the chart that when GDX was 20.37 the price of Gold reached $1187.
My advise if the chart will play out accordingly then lock in half profits @$1200 and let the balance run its course with tight stops.