Precious Metals

I'm not 100% sure what caused the PM's to gap up yesterday, but there were several warning signs with negative divergences at the highs of the day in both. SLV still remains stronger then GLD, presumably from increased demand in countries like India.

GLD

 GLD jumped back into the zone between resistance and support, it's now fallen back below  on some volume.

 Yesterday 3C didn't confirm any of the move yesterday.


SLV

 SLV jumped back above resistance to the breakout area, today it's in the same zone GLD was in yesterday and is likely to bounce around between support and resistance here for a bit.

 3 times there were negative divergences in SLV, each time at an intraday high or attempt at intraday highs.

On the 15 min chart both breakouts have shown distribution, 3C (compared to price) is now in the lowest position on this chart.