GLD, weekly
SLV, weekly
Summary
Suffice to add... a second week of gains, but price structure for both metals sure are very clear bear flags. Price action could remain a little choppy - leaning higher, for another week or two, but broadly, the precious metals look extremely vulnerable to another big wave lower.
The USD is a clear downward pressure, and any move above the giant psy' level of DXY 100 would be massively bearish.
Further, higher rates would be arguably bearish for the metals. The Fed still look on course to raise rates at the FOMC of Dec'14th.
Implications for miners
If the bear flags for Gold and Silver do play out, then the related mining stocks are going to get trashed, at least on the order of 15/20%.
On balance... that does seem probable.
