As you can see on the updated chart, the HUI has one level of chart support left before it retraces the entirety of its move higher from the late June/early July rally.
Wednesday, November 14, 2012
HUI Chart UPDATE
This is the evening chart update of the HUI after it was further shellacked during the afternoon hours of today's trading session when the S&P 500 broke down through its technical chart support level.
As you can see on the updated chart, the HUI has one level of chart support left before it retraces the entirety of its move higher from the late June/early July rally.
As you can see on the updated chart, the HUI has one level of chart support left before it retraces the entirety of its move higher from the late June/early July rally.
if the next level breaks, then it will be bargain hunting time, indeed. HUI/Gold ratio is already down around .26.
ReplyDeletealso interesting that long bond, oil, & gold were flat today.