Bullish Pattern In Gold, Silver and The Miners
Now four weeks later gold, silver and the miners tested that April low and even fell below it only to reverse higher that the previous day’s selling. Across the precious metals board, we witnessed bullish engulfing patterns. We witnessed a similar reversal back in October of 2011 in the S&P500 (NYSEARCA:SPY) when we called for a bullish upturn in equities.
We saw gold, silver and both the large and junior miners dip lower at the open and close above Friday’s high on more than triple average volume.
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