On the weekly chart you can see the longer term uptrend line as been taken out but the previous weekly low. On the daily chart you can see that since March of this year we have been in a down channel. This past week there have been a couple of intraday extensions above the down channel which is sometimes a precursor to a move up. What happens this week will likely tell us if the next intermediate move is up or down. Since this influences the commodities and precious metals it is worth keeping an eye on this. Of course I don't know what while happen but favor another drop. Take care. Have a great upcoming likely volatile week.
