Not sure why the gold and silver miners just took off higher in the last few minutes, but could it be news like this?

https://www.reuters.com/article/volkswagen-batteries-canada/vw-aims-to-take-stakes-in-canadian-mines-mine-operators-handelsblatt-idINS8N2XV08S

Keep in mind that silver typically produced as a by product of gold or base metals mining, so the SILJ etf could benefit greatly if more companies follow suit and start buying stakes in Canadian mining companies. Just a small run to the 200 day MA is a 28% gain from the current price, as I type.

Along with $Silver, we have new ICs confirmed in $Gold, SILJ, GDXJ, and SIL, we are only waiting for GDX to confirm it’s new cycle. These new ICs suggest general upside for 4-6 months, so it’s time to be fully invested in miners and precious metals. Below is the weekly chart for $Silver, but the charts of all the others mentioned above look about the same, notice the MACD is just about to turn positive as well, after being negative the last 3+ months.

It’s still too early to tell, but it’s quite possible the miners have started a new uptrend, after having broken the severe downtrend they we experiencing. I’m posting the daily charts for GDXJ and SILJ below, but keep in mind these etfs still have not reached oversold technicals on the daily charts, that could take another few days of sideways to lower prices. However, if the miners don’t give up much of the recent gains, its a sign there are buyers of miners under the market, and not many sellers. This would indicate another strong move higher, once the mines turn up again. We added to FSM (Fortuna Silver) and the SILJ etf over the last few days, and will continue to add to those and stocks like CDE, HL, and PAAS when opportunities arise (into price pullbacks), maybe even this morning.

As today is the first day of the new monthly, its time again to review the long term charts as they have new data points this morning. Below I posted the SILJ monthly chart, but I could have posted any of the precious metals miners or metals etfs, since they all look very similar. That’s a good sign, it means sentiment across the group is synched up and near unanimous, as they all show oversold technicals such as stochastics and MACD now contracting as it begins its move back to the zero line. GLD and SLV also look the same, all that remains is to see how far and fast miners and metals can move as they have just started new daily cycles, and are looking to confirm new IC’s (intermediate cycles) next, which would extend the potential upside to 4 months or more. We are still looking to add into intraday weakness, and especially if we can get a few days in a row of lower prices, as the daily stochastics are now overbought. This suggests we might see a few days of lower prices, not guaranteed by any means, but if occurs we will add to our mid-sized silver miners, including HL, FSM, CDE, maybe PAAS, AG, and EXK as well.