Up a full % today, which is a massive move for currencies in a single day.

After selling off relentlessly this year, has it finally reached an intermediate term bottom?  I think so.

I think this will provide a tailwind to the metals, although it may not provide an instantaneous boost.  It is facing stiff resistance at the 100 day MA and the daily Ichimoku cloud.  So I wouldn’t be surprised to see it rally for another day and then come back down to fill today’s massive gap.

It’s possible that the HUI already made a final low last week.  Silver is the wild card here, as it is facing stiff Ichimoku resistance at $26.35 on the daily chart out until the second to last week in July.

While this month could end up being extremely volatile, I believe we are setting up for a massive move higher in the miners.