Looks like it’s coming up to decision time, and curious that the inauguration is just a few days away. This applies to the whole PM sector of course, not just the HUI. So many great articles on here lately – some bullish, some bearish. Personally I welcome all analysis, because you need to know all the possible future scenarios and what is making each outcome likely or unlikely, before you can start weighing up the odds.

Anyway, back to the HUI. Will it, or won’t it get a weekly close above that 200 week moving average. You can see on the chart below how it’s been holding us back.

I think I’m right in saying we’re running out of time from a ‘cycles’ point of view in the short term, so we either punch above now, then back-test from above, or fall back and have to wait for another go at it. If we don’t look like closing above later today, I’ll be scaling back my positions in anticipation of lower prices. The chart below captures some of the key points I’m looking at.

 

Good luck everyone, and keep the excellent posts coming.

 

Edit: the 200 wma is currently 200.19