Gold & Silver Index, Breaks Through Triple Resistance Level

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).

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.