PMs

So far 3C's overnight Precious Metals futures reaction has proven accurate, but I also wanted to show you the other-side of the coin and why in my estimation this is more rotational or maybe some further base building, but not bearish activity.

 Early opening action in gold has been just as 3C was suggesting, down.

The same is true of silver.

However the charts that count like GLD's 30 min leading positive suggest that this is temporary price action and it's likely for a bullish cause like strengthening a base or perhaps just rotational, later we should be able to see accumulation in to the move to the downside which would give further credibility to the analysis.

This is SLV's 60 min 3C chart with a strong leading positive divergence, but if you look at the base of price alone, it's almost like a spinning top with a "v" for support at the bottom, adding a second leg to the bottom of the base would greatly enhance both PM's ability to rally further and hold gains longer.