First of all, it is important to keep in mind that Miners are extremely undervalued and the down move in Metals was a cyclical bear market within a secular bull market which means that the primary trend is up. Bullish price action and bullish patterns have been taking place since several weeks in Miners and Metals. You can see on the following charts that the HUI/GOLD ratio bottomed almost at the same level as in 2000 which was a major bottom for the Miners Index.

….view this chart & 11 more all in full size HERE

Below you can see that the Gold/XAU ratio chart is currently showing a possible Head and Shoulders Pattern which indicates that Miners are outperforming the Gold Metal. The Gold/Silver ratio long term chart made a false breakout of an Inverse Head and Shoulders Pattern. A false breakout often generates a strong move in the opposite direction.

….view the chart & 11 more all in full size HERE

Below you can see that the Gold/XAU ratio chart is currently showing a possible Head and Shoulders Pattern which indicates that Miners are outperforming the Gold Metal. The Gold/Silver ratio long term chart made a false breakout of an Inverse Head and Shoulders Pattern. A false breakout often generates a strong move in the opposite direction.

….read much more HERE and view 11 more Charts all in full size