I have been following and trading precious metals since their crazy run up in 2011. I have firm beliefs that the precious metals sector as well as the mining sector has bottomed out and that now is an excellent time to get in. For a while, price has had positive divergence with regards to momentum and this breakout of a long-term resistance TL stretching from August 2011 is proof enough that it's time for this sector to enter a bull market.
Look for the USD to top out as well some time soon, as there is a clear negative divergence between the two. I am long NEM, NUGT, and /SI at this time. Next week will be crucial for SLV and as long as it ends above $18, I'll take it as a sign to scale in with another long.
Look for the USD to top out as well some time soon, as there is a clear negative divergence between the two. I am long NEM, NUGT, and /SI at this time. Next week will be crucial for SLV and as long as it ends above $18, I'll take it as a sign to scale in with another long.