Changiny my view of the precious metals miners.
With what looks like a reversal in the US dollar yesterday I am reevaluating my view of the miners.In both the GDX and the SIL there has been a .62 correction and the shorter term down trend lines have been broken.
There has also been a "measured move" down indicated by the down arrows. Although we have a negative reversal in the RSI, the RSI has jumped up and held in the >50 range where it often stays during advances.
These observations lead me to think the correction is most likely over with more up move to come as the dollar falls.
There has also been a "measured move" down indicated by the down arrows. Although we have a negative reversal in the RSI, the RSI has jumped up and held in the >50 range where it often stays during advances.
These observations lead me to think the correction is most likely over with more up move to come as the dollar falls.
