Folks, the daily charts are broken. We know that. The gold “community” is scattering again in the face of whatever it is that prompts these periodic massacres.
This update is not calling anyone to action (because the daily technicals are busted on nominal charts) but it is noting that a positive divergence is in play in silver vs. gold.
Silver plunged and reversed vs. gold on a day that people might suspect has a pretty good ‘b/s quotient’ going, given the debt ceiling drama.
Also, HUI has not broken to new lows vs. gold as it continues to hold above support at 1.75.
This is just a picture of a couple positives under the surface of what is becoming all too familiar precious metals activity. I thought some people might like this information to factor into their analysis of the situation.
