Bullish reversal in miners but metals remain in question

The gold and silver stocks have put in a bullish weekly reversal but gold and silver have not confirmed it. The interplay between the metals and the shares has been complicated in recent weeks.

Gold and silver are charted below in weekly candle format. Before this week the metals looked bullish. Each tested support and rebounded strongly towards resistance. However, both metals gave back much of the recent gains. Bulls would say they are correcting and still in position to test resistance. Bears would say the metals failed to reach resistance and are headed to new lows.

dec19edgs 

 

Page 1 of 2