The precious metals complex has established a floor of support over the past five months. For Gold it is around $1150/oz and for Silver it is around $15.50/oz. Pick any miner index and you’ll see the support at the November and December lows. These lows could mark a base of support from which a new bull market takes hold. On the other hand, they could also mark support that if broken could lead to a final but nasty capitulation.