reversion to the mean

HGU reverting to back no normal levels as gold takes a step back. Historically Gold tends to follow the stock market in times of high volatility (during the 2008 crash and again during the 2020 crash that also sent gold miners reeling short term). Here it seems that it is reversing as the market puts on more risk and seems to be becoming very top-heavy.

HGU following gold miners makes it very susceptible to the price action of gold as well. I would be looking to buy around 18-20$ and again around the 12$ region if it drops further.

I'm expecting gold/gold miners to do very well in 2020 going into 2021 still despite it losing a substantial amount of momentum already, a correction should fix that.

Comment:

Very close to clipping a 20.10$ limit buy. Might enter manually if it decides to consolidate higher