Why So Bearish?
An update on the weekly HUI chart. Now that we have a confirmed 5th reversal point on this triangle, we can finally see the true structure of this triangle pattern. Until you get that 5th point the pattern can continue to morph, as Fully has pointed out. Remember, we originally had the 4th point at the first week in February 2017.
There isn’t much more time or room for the price action to fluctuate inside of this pattern. The ship is preparing for lift off in my humble opinion.
My guess, one more test of the bottom rail and then blamo!
“Blamo” to the upside 😉
I agree. Looking good so far.
Once upon a time, a long time ago – during the last bull market for gold/silver, when I was making money hand over fist, the good old days – a man by the name of Sinclair said with a straight rule and a pencil the simplest of charts would guide you. And that is what I see here. Clean, simple and not a bunch of lines running all over the place.
Thanks! Personally, I think you are dead on with this simple picture. Time will tell soon enough. Meanwhile, my Spock rocks are slowly gaining ground. 😀
Thanks Neil