TYHEE GOLD CORP

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Message: The miners are telling us something has changed
While good things are happening under the surface for Gold, its lack of a strong rebound in recent months argues that such a rebound is in the future but not imminent. Gold’s steady downtrend could resume in the next week or two...... Turning to Gold, I see less evidence that Gold has established a major bottom. To be blunt, Gold needs a monthly close above $1180/oz, which has been a major pivot point since late 2009. First things first, Gold needs to close this month above $1150-$1160/oz. The bear scenario would have Gold making a bearish reversal sometime this month and closing below initial resistance at $1140/oz. The bull scenario would likely have Gold closing above $1160 and testing $1180 fairly soon........We should also note that while the US Dollar index failed to breakout, it remains well above major long-term support at 92 and 94 with sentiment indicators at constructive levels for bulls. As the US Dollar continues to consolidate, we want to see Gold hold recent gains and push towards $1180-$1200/oz. It would be a bad sign if Gold fizzles below $1160/oz with the US Dollar in correction mode.............. This past week was likely a major turning point for the gold miners and perhaps Gold itself. The strength of recent gains (in the miners) coming off a false breakdown to new bear market lows suggests that the bear market ended on January 19. We should also note that four of the five largest miners (in GDX) are trading above their 400-day moving averages and at multi month highs. Meanwhile, as shown by our Top 15 index, the strongest companies in the sector are on the cusp of a major breakout. While we have some concerns on the metals we should note that the miners lead at major turning points. The miners are telling us something has changed. ...... http://thedailygold.com/something-has-changed-in-gold-stocks/
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