The theme for July is to go on siesta and not be leaning too far in any one direction. To take a nap and keep the blood pressure down. Gold is in a consolidation and has been among the lamest (most sleepy) items. Today's pop looks suspect to say the least, going by GLD's volume.
HUI can be seen as negatively diverging gold and silver, no matter that a lot of the pressure there is concentrated in the senior miners after GG's lousy production revision. But taking the GLD chart at face value, there still appears little to get excited about and in fact, it is going to break one way or the other fairly soon. I suspect (as in guess, like anyone else) that the move is going to be down... right into the ending phase of the correction.
http://www.biiwii.blogspot.com
http://www.biiwii.com/analysis.htm
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HUI can be seen as negatively diverging gold and silver, no matter that a lot of the pressure there is concentrated in the senior miners after GG's lousy production revision. But taking the GLD chart at face value, there still appears little to get excited about and in fact, it is going to break one way or the other fairly soon. I suspect (as in guess, like anyone else) that the move is going to be down... right into the ending phase of the correction.
http://www.biiwii.blogspot.com
http://www.biiwii.com/analysis.htm
Subscribe to NFTRH or
Subscribe to the free eLetter
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