The party pool of pm metals and stocks that was so savagely attacked by US bankers last year appears to have been cleaned up from the big excremental dumping with people jumping back in again. This is evident by today's performance in the XAU Index by it strongly pushing above its 200 day moving average line. The average is at 120 with the Index being up 6.28 at 126.72. This is but another attempt at reversing the current intermediate down phase.

Adding emphasis to today's move in the Index is the MACD Divergence lines crossing to positive. In addition, the Relative Strength Index which has been confined below the 50 level recently is seeing some daylight to the upside as it pushes past it.

All this bodes well for ECU and the rest of the pm group. The CDNX Index is acting healthy today by continuing to advance past the important 1000 mark at 1023.94, up 13.77.

http://bigcharts.marketwatch.com/qui...