I'd like to see MUX move and Close above this $1.95 range but Gold's going to have to support the move as well by moving above the $1,220/25 range.
As of this moment, MUX is one of a couple that's not green, "in total opposite to yesterdays action". ... screencast.com ... MUX breaks even on Holiday Volume, thus far anyway.
MUX is in between its 20 and 50-day EMA's, ... screencast.com ... and the lower indicators are mainly in overbought status, ... I just dont see any Volume Conviction.
Is it possible to get a sustainable move by any of the miners if Golds not participating, or supporting the move?, ... and at some point, is it possible that we see some of the miners decouple from Gold and Silver and start moving on their own, ... which I dont think is unusual, and its probably a high possibility considering the outright destruction the miners have gone through?
Here's what ZeroHedge said this morning on Golds move.
~~
And Now Gold Is Soaring
By Tyler Durden
Created 12/31/2013
Short-squeeze time? ... and suddenly CNBC goes quiet on the precious metals market movements.
The last 2 months has seen shorts pile back on in the futures market are squeezing in the fall...
We expect the BIS' Mikael Charoze, who is currently "red" after the recent gold slamdown, to promptly return to "green" at which point gold will once again mysteriously crash to its 2013 lows.
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