Goldtent TA Paradise

HUI

1. neildavis2002 says:

   April 23, 2017 - 9:55 am at 9:55 am

   This chart does look like a nice setup for higher prices. Every one in cyberspace seems pretty bearish though. I’m looking for a Trump election night style reversal tonight in which Le Pen doesn’t do as well as generally thought and gold sells off hard initially, getting everyone onto the wrong side of the boat. Then it reverses after a few hours, leaving everyone high and dry while guys like me and you sail off into the sunset. Then they’ll all be saying “why didn’t I just keep it simple and listen to the HUI chartology which clearly suggested that gold stocks were backtesting the top rail of a fairly important trend line?” But that is the magic of the market; always able to trick even the most savvy traders into believing their “gut” and their assumptions concerning the geopolitical fallout of certain events instead of just trusting the simplicity of the charts. I even know there were some traders who went short gold Friday afternoon. Of course it’s possible that we get an around the apex move down in the HUI next week but if so, we buy at a lower price.

2. Gary says:

   April 23, 2017 - 10:57 am at 10:57 am

   Yep, as horrid at the miners seem we may just see sideways churning instead of a plunge. But if we get above the Feb highs I think it’ll be go time.

3. Northstar says:

   April 23, 2017 - 11:36 am at 11:36 am

   Keeping it simple is often the best way, and this chart speaks a thousand words.