This is the most likely Scenario from a Purely Chatology Perspective

There is NOTHING else even on the radar at this point.

ANYTHING can happen as we all know BUT

HUI had a really strong impulse down and has now been “consolidating” the move in a downward sloping rectangle

Rambus teaches us there are only 3 things a “stock” can do from a chartology perspective

Impulse move / Continuation Pattern / Reversal Pattern. Thats it….Simple ? Yes !

MOST “patterns” whether they are triangles, rectangles, wedges, head and shoulders, whatever.. sloping up or down are Continuations

No one really knows what % but from experience I go with 75 to 80%…the rest 20 to 25% are “reversal” patterns..

Downward sloping patterns ( in the direction of the “move”)…like this one… tend to be seen in “fast moving” markets .

So if we are being objective here..the odds favor this pattern as a half way pattern to about 100.

This chart is really simple. I like Chartology because it is really simple…like me

🙂

100 could be a reversal point of course…that would be great if you are a Gold Bull.

Double Bottom ?