Loading ...Went back and found your long-term GDX chart. We are still above that downtrend line as far as I can tell. In an earlier post you made reference to the Aussie dollar as a precursor to a rise in pm’s I believe.
This troubles me because the HUI also broke above it’s 50 and 200 dma this week. It troubles me because the scum just loves to sell at these points although everything appears to be in-line for a move higher in the shares – at least chart wise. We’re in a small uptrend and nowhere near overbought.
I’m just not sure if the GDX can go higher without the SM.
I am curious to see what the aussie dollar looks like on a performance basis to GDX.