US equities are leaning on the weaker side. Meanwhile, the precious metals are significantly higher, Gold +$22, with Silver +1.6%. The miner ETF of GDX is currently +3.6% in the $36.58s.
GLD daily
SLV daily
GDX daily
Summary
*Whilst the November settlements were ugly, multi-month price structure in gold, silver, and the miners IS a bull flag.
Gold/GLD: gold printed the $1873s, which helps to solidify a s/t floor. Things turn ‘interesting’ >psy’1900. A cooler dollar to test the DXY 88s would help.
Silver/SLV: silver printed $24.94. Core support 21/20. Multi-month price structure is a clear bull flag. Having printed the $29s this past summer, next target is the 35/37 zone.
GDX: miners opened fractionally choppy, and then saw a very powerful upward swing. Soft target are the $38s.
notable miner: NEM
Newmont is powering upward with the sector. The 50dma is set to be cleared, and then onward to gap 66/68. Momentum is in the process of turning positive.
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Equities: sp’60min
We’ve seen a little cooling, but broadly… its a long series of higher highs and higher lows. Even orange gap looks a stretch, and would be news dependent.