What a great day for gold, especially silver and the miners.
We had an overall solid market reversal regarding the major indices from last Fridays close, and today, MUX finally closed above the $19.10 without hesitation. Both negative candle sticks MUX printed last week were knee-jerk reactions to news regarding tariffs between China and the U.S.
My watch list below turned solid green today. Silver broke above $50.00 and gold made another new high above 4,100, both closing near highs.
I updated the pivot-point lines from last week's daily action. The lower black line is at $18.04, anything is possible, but hopefully, ...unlikely, several pivots below have never filled, which is normal. The upper black line is todays pivot, its at $20.08, so we shall soon see. The red line was Fridays pivot, which filled nicely today. We have slight resistance at $20.70 and another one that's stronger at $21.00, this one needs to fall before MUX can take a shot at $21.40+.
You might remember when I posted the chart below a couple of weeks back, its my watch lists (% bases) ranking. When I first started tracking it MUX was in 8th place, its now in third place, "what a nice surprise since then" ...Its trading nicely with the Billionaires. James.
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