Market Vectors Gold Miners ETF GDX shares are trading lower by $0.36 (1.6 percent) at $22.89 in Thursday's session. For the third day in a row, it has found resistance at the $23.50 area.
After peaking Tuesday at $23.50 and Wednesday at $23.56, its brief rally off Thursday's open peaked just ahead of those highs at $23.45 and turned lower.
The ensuing decline has taken the ETF beyond the double close from Tuesday ($23.26) and Wednesday ($23.25), so far reaching $22.77 and is attempting to rebound.
If the decline continues, there may additional support at the pair of lows from March 17 ($22.51) and March 20 ($22.58).
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