02Feb10:36 amEST

Gold and Silver Miners: Let's End the Suspense

Following a multi-quarter correction after an explosive rally which began a little over a year ago off a potentially major bear market bottom, gold and silver miners are threatening to emerge. 

For every encoring chart in the space, like PAAS below on the daily timeframe (a silver miner with earnings on February 14th), there are laggards like TAHO which silver bears can cherry-pick as evidence that the group has some unfinished business to the downside. 

Thus, the suspense continues to build in the sector, with gold miners also sporting a mixed bag in their own right. 

What we do know is that the silver ETF, SLV, is sporting a daily chart inverse head and shoulders bottoming formation, currently rallying above the "neckline," as are some silver miners like AG EXK. And with respect to gold miners, the likes of IAG are notably attractive from a technical standpoint, basing tightly just above all daily chart major moving averages (earnings on February 22nd). 

With the first FOMC under Trump now behind us, precious metals and miners are essentially out of excuses not to rally further if last year truly did mark an inflection point. We have several other fresh ideas on watch, pending gold bugs showing a sense of urgency here at this particular crucial technical moment for the complex. 

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