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...
and a BUY signal for GDX
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
You have to look for other ways to explain this drop. Search out other bottoms. If 160 don't hold look for 120, 3rd down channel kiss.
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...
basic trendline support and resistance
Due to our position in the Kondratjew Cycle, I believe that the start of a multi year bull market for the gold miners is imminent. We are close to the final leg down in the real interest rate which will bottom out at the end of our current K-Cycle which will coincide with a secular low in the Dow/Gold Ratio and a corresponding high with the gold price.
Here a daily charts showing Buy & Sell signal based on CCI indicator (MA 200 as confirmation)