HUI Gold Index Breakout?

46 0
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 shall rise higher.

MACD neutral - turning to positive. MACD is above the long trend.
RSI has already turned to positive and is continuing.

If HUI can cross the resistance then it is possible that it`ll go up till 221 Points.
Past ascents lasted between 26 to 36 bars and nearly 20% gain.

This brings me to the mentioned conclusion.

I see more chances for a rise than risks for a drop.

Gold and Silver are neutral to positive. Dollar has strengthend. The fundamental facts of the explorers, royalty firms and miners are good.

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