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$).
What is estonishing as well is the big gap between the HUI index course and the course of Gold. This "cries" for a correction and I wonder which it´ll be? Gold down or HUI up?
Indicators are signalling more weakness so I do not expect that HUI goes up with the consquence that Gold will also have some losses.
This is a very bearish sign, if it doesn´t turn immediately to re-enter the comfort zone.
If not there is the risk that HUI would fall on 143 pt (fib retracement 23.6%) - with only one support line in between (160$).
What is estonishing as well is the big gap between the HUI index course and the course of Gold. This "cries" for a correction and I wonder which it´ll be? Gold down or HUI up?
Indicators are signalling more weakness so I do not expect that HUI goes up with the consquence that Gold will also have some losses.
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