Tech Analysis of Precious Metals Miners

[SilentOne]

Hi D!

I wrote this initially:

"I would not count the rise from the $370 lows as 5 waves up. The 5th wave always brings in divergence (except for extended 5ths), and we have not seen a lower high on the MACD. This is how I tend to count waves where 3rd waves put in MACD highs and 5th waves present divergence. Maybe it is different for leverage markets like gold though.

So this is something else IMO and I expect gold to take out $409 some time soon. Beyond that I would not care to project."

Then having looked at the gold chart further, we could be finishing up and ABC for a "B" wave. The $409 level tells all this week.

cheers,

john