The Market Vectors Gold Miners ETF (NYSEArca: GDX) and the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ) are down 2.3% and 1.8% Wednesday, performances that on the surface appear to indicate today is just another day at the office for these downtrodden funds.

To be fair, Wednesday’s pullbacks in GDX and GDXJ, the two largest gold miners ETFs , could be nothing more than profit-taking because even with today’s declines, GDX and GDXJ are up 7.5% and 10.2%, respectively, over the past week.

Of course, the two ETFs are among the most savagely beaten non-leveraged ETFs in recent months with an average three-month decline of nearly 28%, but an unheralded ratio indicates the recent action in these ETFs, that being the upside, could continue.

When the GDXJ/GDX ratio is falling, the former is weakening even more rapidly than the latter, but one technician sees opportunity and notes that the ratio could be finding critical support.

“When this ratio is heading south, GDJX is weaker than GDX. The ratio has been hit hard and could be near channel support right now,” notes Chris Kimble of Kimble Charting Solutions.

The GDXJ/GDX does not command the same attention as other financial market ratios, but lack of popularity does not diminish the ratio’s potency. If the GDXJ/GDX ratio is successful in establishing support and then breaking out, it would be a positive sign for both ETFs, particularly if GDXJ legitimately leads its senior counterpart higher. [Comparing Two Gold Miners ETFs for Big Results]