After failing on multiple attempts to break (and close) above the T2 level, GDX has now fallen back to the former R1 (resistance) zone, which is now support.  Although I’d give slight odds that GDX continues lower to the yellow uptrend line, it very well could reverse of the R1 (now S1) support zone.  Therefore, I may begin scaling back into the gold & silver stocks that I sold as the GDX approached T2. Updated daily chart last, preceded by previous string of GDX daily charts.