news.goldseek.com / By Gary Tanashian / 24 June 2014
After making fools of the gold stock bears the initial thrust off of the right side of the bottoming pattern is making heroes of the bulls, especially those who remained steadfast in their bullishness throughout the bear market. Indeed, there is now some chest thumping going on by Team PermaBull.
The first move has been impressive in bursting upward off of what NFTRH has called ‘the 205 parameter’ (a right side shoulder point of a large Inverted Head & Shoulders). The initial move is maturing amidst the bullish cheer.
We have done extensive work on various time frames and components of the precious metals sector, beyond the weekly view of HUI above. Of particular interest lately has been the silver-gold relationship, and its relevance beyond the insular and highly obsessed upon precious metals sector. There is an entire macro story playing out.