Good news continues to pile up for exchange traded funds that hold shares of gold miners. Not these ETFs need it.

In what has become one of the most stunning year-to-year reversals in recent memory, precious metals mining ETFs have gone from lining the list of the 10 worst ETFs in 2013 to occupying several spots on this year’s 10 best list. That group includes the $7.2 billion Market Vectors Gold Miners ETF (NYSEArca: GDX), the largest gold miners ETF by assets. [A Rosy View of Gold Miners]

The list also includes the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ). GDXJ surged 5.1% on more than double the average daily volume Friday, bring the $1.5 billion ETF’s year-to-date gain north of 16% or roughly twice as good as the returns offered by GDX. Remember, GDXJ was such a dreadful performer last year that it was reverse split.

A 5.1% gain on more than double the average turnover is impressive and it serves as confirmation of a bullish technical pattern in GDXJ. Specifically, the ETF has notched consecutive closes above a downtrend line that dates back to 2012. More upside for GDX, GDXJ and rival ETFs could be on the way.

“The Gold bugs index is hitting oversold levels last seen when Ronald Reagan was president. The swift and large decline in the gold bugs index over the past couple of years has driven it down to the bottom of its 11-year rising channel support line. The index could well be forming a bullish inverse head & shoulders pattern, near support while deeply oversold. If this pattern read is correct, the right shoulder still needs some more time to form,” according to Chris Kimble of Kimble Charting Solutions.

Extreme bearish sentiment against gold miners was palpable at the end of last year, but some prescient analysts and traders saw opportunity. In just the past month, GDXJ is up 17.5% while GDX is up nearly 9%. [Rare Opportunity in Gold Miners]