The Index for unhedged Goldminers HUI has shown some movements - up and down.
Since beginning of the year 2017 the index is catched between fibb level 23.6% and 38.2% - or shortly below.
We have had a false break out at september 08 (bull trap). And in the following weeks performing a clear shs formation.
At that time it was previsible that the index would fall - what it did.
The dynamic was so immense that it broke through the resistance and since then it has stayed below.
The positive news is, that MACD and RSI are rising and it seems they would continue a while.
But the course must cross the resistance line (23.6%) to send a positive signal.
Bollinger bands are tightening, so I think this "agony" will continue several days befor we´re about to see new dynamic.
As Gold and Silver send positive signals too I expect a rise of the HUI at the end of this period.
Since beginning of the year 2017 the index is catched between fibb level 23.6% and 38.2% - or shortly below.
We have had a false break out at september 08 (bull trap). And in the following weeks performing a clear shs formation.
At that time it was previsible that the index would fall - what it did.
The dynamic was so immense that it broke through the resistance and since then it has stayed below.
The positive news is, that MACD and RSI are rising and it seems they would continue a while.
But the course must cross the resistance line (23.6%) to send a positive signal.
Bollinger bands are tightening, so I think this "agony" will continue several days befor we´re about to see new dynamic.
As Gold and Silver send positive signals too I expect a rise of the HUI at the end of this period.