The chart below looks at the Gold & Silver mining index, dating back to to the early 1980’s.
The Index lost over 80% of its value from 2011 to the 2016 lows, where it looks to have created a double bottom (2000 lows).
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The index has bounce nicely off the 2000 lows that it hit earlier this year. This bounce took it up to a test of triple resistance at (1).
Nice action of late as this key mining index is now hurdling over this resistance cluster, breaking through it.
This price action is a positive one at this time, for this 30-year old index.