We have highlighted key technical breakout points for gold, silver, rare earths, uranium, gold miners and silver miners for our premium subscribers which are finally being penetrated to the upside.
The 20 day moving averages have all turned higher. The 50 day has also turned higher except for the major gold producers which have been lagging in 2012.
It is clear that silver has outperformed gold as the ratio has decreased from over 58 to 1 to below 50 to 1. Silver is higher with an explosive breakout through the $35.
A breakout from these key technical areas highlighted above is confirming our hypothesis since early October (Watch “Bottom Forming In Junior Miners?” 10-5-11) that we were approaching the finale of the basing process and beginning a new uptrend in precious metals and miners.
The trajectory of our sectors is rapidly turning upward and a bull market in natural resources may be in the process of beginning as this is written.
Check out this recent video analysis from several days where we highlight major technical breakouts.