HUI has left the room
Updated
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.
Trade active
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.