Depending on how u draw the line or as they said in ancient times, depending on how thick your pencil was , we have yet to really break out in the GDX/GLD ratio….which explains why the shares still seem sluggish, relative to any PM rally, we are still not seeing the multiples of any PM rally in the shares and the Algo shorts are still happy…ie this rally is just another opportunity to add.
Though GDX.Au does now suggest the break out is real
Wheras Hui/AU, has broken and backtested the trend line …which says we should soon be running.