Following up on a previous article written about GLD, this article looks at the mining industry that obviously would be directly impacted by the fall in recent capitulation in gold and precious metals. By now, every investor or trader should have already read or heard about the fall of gold in the commodities market last week. If you haven’t, here’s a recap — let’s look at the charts of the  popular gold ETF, GLD Since the peak of August 2011, GLD has dropped about 22%. In fact, the ETF broke its long term uptrend support beginning of 2012 and has been trading sideways since then. Last week’s capitulation was significant when GLD broke the $150 which served as support during the consolidation period. Now that GLD has broken that psychological support, the next question is, how low can it go? A clue would be the the popular Fibonacci 61.......