GLD, weekly
SLV, weekly
Summary
Suffice to add, after a powerful ramp - and multi-year breakout - from the Dec' 2015 low, the precious metals are really struggling as the USD climbs on renewed mainstream belief of a second rate hike in June/July. The broader confidence in capital markets is also stripping Gold/Silver of their fear bid.
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GLD needs to hold the $112s.. where there are a number of aspects of support.
SLV needs to hold >$14.50.
If GLD 111s, with SLV in the low 14s, then it'll be a major problem, and provisionally negate the breakout from earlier this year.
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If sp'500 breaks a new historic high >2134, then it would be suggestive of a CORE TREND change... with equities to climb for the rest of the year... with the metals eventually breaking new multi-year lows.
The next 3-5 weeks of price action will be critical.
