Long Gold stocks HUI and short Financial XLF ratio close to 15 level breakout. Above and we are off to the races. Note the post 2008 crisis long term outperformance.
Triangle broke, sentiment hot, buying pullbacks $GDX, $GDXJ, $SIL
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.
Maybe the HUI is not for you, but find a way to own gold or those who dig it out of the ground. Get long and be patient while the the Big Bear runs its course....
Falling wedge at decade old channel line $GC_F, $GDX, $GDXJ
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 Silver also are signalling more strengt, it...
I'm on watch to short any and all rips on this chart. I don't want to chase this decline though but I'm sure we'll get some nice spike ups thanks to the huge short interest
This chart looks horrible for the goldbugs. The long fight about the EMA 20 is lost and therefore a rapid decline is probable, which may accelerate with the bearish crossing of the important horizontal support (yellow). Target is the lower leg of the bullish wedge. Afterwards there may be a big move to the upside as a wave 3.
At confluence support area $HUI, $GDX, $GDXJ
The Index swings within a negative trend channel. It rebounded on the lower limit of the channel, also the fib retracement 38.2% (170). Since march 18 it climbed with little steps to the next resistance - a falling trend line, that is coming from june 2011. This had to be broken - what happened - to confirm the positive move. The trend line is now support and has...
HUI has fallen from the upper limit of the descending trend channel to its lower limit. It rebounced on the lower level and now has rosen above the long descending trend channel - this is a good sign. If gold and silver don´t get weaker than they are actaully then we´ve got good chances that the HUI - Index will test the upper limit of the trend channel. Dollar...
HUI has just broken the lower limit of the trend channel, but also the support at 170 pt (fib retracement 38.2%). This is a very bearish sign, if it doesn´t turn immediately to re-enter the comfort zone. If not there is the risk that HUI would fall on 143 pt (fib retracement 23.6%) - with only one support line in between (160$). 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...