AMEX GOLD BUGS INDEX

NYSE

HUI

Build Short as depicted

The Gold-HUI Index Correlation-like thingy

Gold and currency goes the different way in the same entity. But in different economical entity, it will depend in how close the economy of the area or country relies on the US dollar.

The HUI index pointing down.

We all know why gold stocks should go higher. It looks like (HUI) found a bottom and started to trade higher. I use my unique trading strategy based on Fibonacci numbers and Golden spiral.

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...