Now that I’m back from vacation, I plan to update various indices, sectors, commodities, bonds, etc.. today in no particular order starting with gold & the PM miners. /GC (gold futures) has been consolidating between the 2643 support & 2685 resistance levels following the recent bounce off the primary uptrend line on this 6-month, 120-minute candlestick chart with the next near-term direction likely to be determined by which way gold breaks from this range.
GC 120m Dec 9th
GDX (gold miners ETF) has been consolidating below the primary uptrend line following the early Nov breakdown & subsequent 12% plunge to the 200-day SMA, currently awaiting gold to decide which way it wants to break from its comparable trading range. Daily chart below.
GDX daily Dec 9th
At this time, I don’t have a strong opinion on which way gold & the miners break from these ranges although I will post any notable developments as I come across them.