By Chris Vermeulen
Minyanville
It has been a very long couple of years for the precious metals bugs. The price of gold, silver, and their related mining stocks have bucked the broad market uptrend and have been sinking to the bottom in terms of performance.
Earlier this week I discussed the broad stock market and the fact that it looks as though its uptrend will be coming to an end sooner than later. The good news is that the precious metals have the exact flip side of that outlook. They appear to be bottoming as they churn at support zones.
While metals and miners remain in a downtrend, it’s important to recognize and prepare for a reversal in the coming weeks or months. Let’s take a look at the charts (with my analysis overlaid on each) for a visual explanation of where price is currently trading.