Gold declined for days but we finally saw something else yesterday – gold moved higher. Is the bottom in?

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The previous week was extremely important for gold & silver traders and investors. Gold moved visibly below its final rising support line and silver broke below the $19. Miners moved below their 61.8% Fibonacci retracement. Will the precious metals sector really plunge shortly?

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There were unsuccessful attempts to move below $19 in silver on Dec 3, 2013, Dec 4, 2013, Dec 31, 2013, Jan 30, 2014, Apr 24, 2013, May 1, 2014, May 2, 2014, May 29, 2014 and the only time that we silver closing below $19 was from May 30 2014 to Jun 4, 2014 – after that a sharp rally started.

Silver has just closed visibly below the important $19 level for the first time in 3 months. What’s next?

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There were unsuccessful attempts to move below $19 in silver on Dec 3, 2013, Dec 4, 2013, Dec 31, 2013, Jan 30, 2014, Apr 24, 2013, May 1, 2014, May 2, 2014, May 29, 2014 and the only time that we silver closing below $19 was from May 30 2014 to Jun 4, 2014 – after that a sharp rally started.

Silver has just closed below the important $19 level for the first time in 3 months. What’s next?

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The USD Index has finally... - as odd as it may sound – declined. The reversal was not unexpected and so were the implications – we saw an analogous reversal in gold, silver and mining stocks. The price action in silver was most profound and meaningful. The implications are important – but what are they?

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