Monthly HUI with TLs through closing prices on a log chart. This is a map of what should happen if the TL support holds. Minimum target is 540 to complete C. Three of C will exceed 400. Gold will go to 1650. Xau to 200

This is the scenario where the dollar breaks down and heads to 66 over the next few years. I expect downside pressure ST on gold and gold stocks, XAU maybe to 56 first e.g. I would not be alarmed by an intra month move under the HUI TL support next month which would set up a bear trap.