The key technical development of this week in the precious metals market is HUI's invalidation of the breakout above the 2016 highs. It will be particularly interesting to see where it closes the week, as an invalidation in weekly closing terms will be a crystal-clear bearish confirmation. {image} Gold miners reversed before the end of yesterday's session, but they didn't manage to take HUI back above the highest weekly close of 2016 - the 278.61 level. The HUI closed at 271.06. On the daily chart, we see that a short-term breakdown is currently being confirmed. {image} The GDX ETF moved below the rising support line ... (full story)