We have been noting a break in the equivalent resistance in the miner indexes and ETFs, but gold and silver came close, caught a whiff of the cigar, but then the salesman pulled it away. Gold and silver hit their ‘bounce’ targets but did not do anything technically to indicate it is anything more than that. So the question remains, with the miners still above key support (which we are tracking in NFTRH), who’s leading who? The cart or the horse?
Here’s gold at yesterday’s close, not having cleared real (as opposed to the 1200 headline) resistance, as noted here last week: Gold and Silver at Resistance
Silver held below its very clear resistance line.
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