Following the expected reaction of the top of the T1 zone, GDX is now approaching the bottom of yesterday’s gap, which was one of the likely pullback targets posted yesterday. While that is the most likely end-point for a pullback, the former R1 (now S1) level around 13.34 would be the next key support level, should GDX continue to move lower.
GDX 60 minute Nov 20th