Following the negative trend in Gold the HUI index has lost 27% within 2 months approx.
It has left the negative trend channel to the bottom, forming a new and tighter trend channel (red). But also this pattern has been broken.
And now the index has entered a diamond pattern, which is a reversal pattern.
As Gold and...
Silver market was undermined with a notorious Flash Crash occurred last summer.
The chart structure was spoiled but at the end of the day if we have enough patience
to wait until dust settles we could see the clear picture again.
I spotted for you both the blue downtrend and the yellow triangle pattern in the wave X on the chart.
It looks like we can gain from...
The Index swings within a negative trend channel. It rebounded on the lower limit of the channel, also the fib retracement 38.2% (170). Since march 18 it climbed with little steps to the next resistance - a falling trend line, that is coming from june 2011. This had to be broken - what happened - to confirm the positive move.
The trend line is now support and has...
HUI has fallen from the upper limit of the descending trend channel to its lower limit.
It rebounced on the lower level and now has rosen above the long descending trend channel - this is a good sign.
If gold and silver don´t get weaker than they are actaully then we´ve got good chances that the HUI - Index will test the upper limit of the trend channel.
By the end of week we saw that gold soared but miners didn't-The HUI index didn't even close or move above it's march highs,silver performance was confusing or mixed but the question is why did gold rally where silver and miners didn't?
Let's start from addressing our first question that why did gold rally in the previous week?from our analysis we think that the...
HUI has just broken the lower limit of the trend channel, but also the support at 170 pt (fib retracement 38.2%).
This is a very bearish sign, if it doesn´t turn immediately to re-enter the comfort zone.
If not there is the risk that HUI would fall on 143 pt (fib retracement 23.6%) - with only one support line in between (160$).
What is estonishing as well is...
As time goes by the picture gets clearer and I think the map has changed as
we have another wave to the upside pending (wave C).
Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2.
It could drop deeper to the area highlighted with an orange box (1286-1265).
It could be better to long there.
Minimum target where C=A...
HUI has fallen from the top of the trend channel to its bottom. On this support level it has rebounded and could now be on the way to the opposite side of the trend channel.
For short term investors this offers good buy opportunities.
From bottom to top: + 21%
Have in mind that there is the long term trend line (descending) and the index has to break through the...
The index has crossed from the upper limit of the trend channel to its lower limit and is now very near to it.
On this level we also find the fib retracement 38.2% .
If it´s broken and the trend channel is left behind then HUI could continue to fall until the fib retracement at 23.6% (143 pt).
On the other hand, if the price rebounds from the lower limit then...
buy: above the dotted line (green arrow)
the line connects three peaks of the past week
stop: below the dotted line (red arrow)
the line connects four valleys of the past week
The index is above the long descending trend line (dashed line)
RSI and MACD without strong signals = neutral
With stocks and cryptos going down a switch of investments in metals and...
HUI has touched the support line and has tested it twice.
We can expect now rising courses to the fib retracement at 190 points.
MACD: signal line triggered but weak
RSI: turned to positive direction - 43 is not strong
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 -...
The HUI has broken out of the ascending triangle and I expected it to fall further.
But it stopped and turned - perhaps the index of the goldmines will return to the triangle.
The time cycles show that around this point(+- some bars) one can expect a change in trend, as it has been in the past.
The fibb retracement is now resistance and has to be broken if HUI...
The Index of the unhedged miners HUI is at the moment weak.
The index is approaching the fibb retracement at 23,6% (190) . This fibb retracement isn´t a very good indicator, not so strong as others!
MACD is neutral, but the trigger line (blue) is turning down.
RSI is under 50 Points, that´s clearly negative terrain.
With a little luck, the fibb retracement at...