"What makes today’s move strongly suggestive of the beginning of a solid trending move higher is the fact that the mining shares are showing, as of the time I write this, technical breakouts as indicated on both the HUI and the XAU price charts. The XAU is attempting to put in its best closing level since September 2008. The 130-131 level has proven to be formidable resistance in the XAU and should it fall on today’s close, the bears will be very hard pressed to make any kind of technical case. Ditto for the HUI should it be able to take out the 310-311 level on a closing basis. Both indices are currently trading above those levels as of this hour. "