That volume was in play early April as well, but a 16% decline followed. HUI is at its resistance zone as of this am...if the stocks are going to truly breakout they will need a "close" above $1272 Gold and $19.45 Silver.US$ is not breaking down as it still holds above its 200dma @ 80.45.....worth watching!Agree completely the charts have given both the Bulls and Bears the line in the sand....$1240....very key going into late June....jj
HUI index off its Dec lows of 188 just touched its Fib line @ 216...a "close" above 216 would have me covering 1/2 my short miners position....closing out the other 1/2 @ a "close" above 225....holding original short position from 338 HUISilver is not confirming Gold or the miners breakout....jj
jj - what do you make of gold having higher IC lows, yet lower IC highs?
Well any upward move will produce higher lows, I'm watching the resistance levels that Gold must overcome with a close, those resistance levels were once support so a close above $1272 will be very positive for gold which should be putting $19.44 silver into play....fwiw I didn't cover any of my short positions today with the HUI closing right on a key level.Gold, Silver and the miners either put in a top today or Thurs looking towards a late June low or the low truly was last week and they continue trending higher into month end....jj
Following Gary along with Dan Norcini provides an excellent mixhttp://www.traderdannorcini.blogspot.ca/2014/06/gold-chart.html
A Gold Trading Advisory Company must do the similar analysis as posted above, before providing any tips.
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