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...
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...
Gold is trapped within a large complex correction labeled as WXYXZ. Current upward move could be the last wave up within wave X before the last drop in wave Z.
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...
Lagging for now, negative correlation $GC_F
The mining stocks are going to be stronger than the broad markets again?
Hui Gold Bugs at important level
I believe that the Goldminers (and Gold) entered a secular bull market in 2000 right after the tech bubble burst. This event marked the beginning of the ongoing Kondratieff Winter, which is a big bull market for Gold and Goldstocks.
I think 2017 will be a very good year for SVCMF.
Bull or Bear? Rejection earlier at long term uptrend line, but successful backtest (so far) of 3 year downtrend line. Lots of room to run if she can take out 200 or so.
Entry is now as marked on the Chart. I have also marked my Targets. This could roll into a longer Trade as I will let the chart take the last portion out. I will move my stop to even at T2