Metals and Miners Bull Market Point Of Recognition [SPDR Gold Trust (ETF), Market Vectors Junior Gold Miners ETF]

This breakout would be also a point of recognition of a new bull market in Miners.

MINERS INDEXES JULY 8

On the following chart you can see that Silver is leading Miners and Gold as it already broke out of a Triangle Pattern and the HUI Index (Miners Index) breakout should be the next one, followed by Gold. Both Miners and Silver are outperforming Gold which is what I like to see in a healthy Metals bull market.

SILVER MINERS GOLD JULY 8

When a point of recognition occurs, price action usually reveals a new bull market which should outperform the other markets. On the following chart you can see that the HUI/SPX ratio broke through a 3 year trendline resistance and is currently forming a possible Double Bottom Reversal Pattern.

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