A very strong day in the mining universe today with some nice upside moves among the various miners. For once, instead of acting as a drag on gold, the shares helped lift it higher.
That being said, nothing much has yet changed from a technical chart perspective. The bulls have made a valiant effort here and have prevented the bears from kicking off another leg lower in price but all they have managed to do, thus far, is to secure that downside support level and keep price contained within a well-defined range.
For a trending move of any magnitude to develop, one side or the other needs to violate the range and take control of price.
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