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HUI

Gold futures eyes $2,577 in acceleration of upside impulseA pullback in yellow wave (2) almost hit 61.8% of yellow wave (1). Now we see the strong minor impulse to the upside. It can be a part of large yellow wave (3). The target is projected at the distance of 1.618x of wave (1) with aim at $2,577. Watch how price breaks above the top of wave (1) beyond $2,086 Risk/reward is 1:2.5, one could get it better if goes on a lower time frame and buys on minor pullback following minor wave 1 of (3). Do you see gold futures touching $2,577?
COMEX:GC1!Long
by aibek
Gold and Sentiment, Turbo Bear?My favorite ratio for cutting through the noise is an LT view of Gold/Oz($) : HUI (the Gold Bugs Index). Generally when it rises we gold bugs suffer because the price isn't reflecting our buying habits. That's why I'm looking for the next bottom on this chart sometime in July that might coincide with this broadening wedge... A date that keeps recurring for me is June 28th, and I haven't figured why just yet.. The broadening wedge may indicate that some dramatic downside is very possible, I just hope that it's in late summer after some profit-taking. Reasons for hope here: 1] a breakdown from this channel is giving me hope, as sentiment is outstripping gold price performance. 2] it seems to coincide with deep retrace and ultimately a break below the 100Mo MA, the 30Wk Ma, and 30D Ma are firmly below. (Looking for the 30D to cross below 30Wk for TURBO BEAR) 3] downward cloud pressure is huge and respected at this time See my previous post on GDX/Gold for another view at this pivotal time
TVC:GOLD
by ptero1492
HUI in reversal patternFollowing the negative trend in Gold the HUI index has lost 27% within 2 months approx. It has left the negative trend channel to the bottom, forming a new and tighter trend channel (red). But also this pattern has been broken. And now the index has entered a diamond pattern, which is a reversal pattern. As Gold and Silver also are signalling more strengt, it is possible that the HUI will have seen its low and we´re in front of a new rally. The indicators RSI and MACD are also turning, confirming the possibility of a new and positive trend. If the index breaks out the diamond pattern to the top the next aim should be the swing trend line at ~ 160$, which is also the lower limit of the longer negative trend channel. This will be a stronger resistance and it has to be broken if Silver shall continue to rise. EW: If this has been the low of the last move, it would be the turning point C of an ABC-correction wave. This is no trading advice!
NYSE:HUILong
by Luettis
Silver. Short Opportunity. Target 12-13.66Silver market was undermined with a notorious Flash Crash occurred last summer. The chart structure was spoiled but at the end of the day if we have enough patience to wait until dust settles we could see the clear picture again. I spotted for you both the blue downtrend and the yellow triangle pattern in the wave X on the chart. It looks like we can gain from the last drop down to the previous low at the 13.65 or even lower to the downside of the downtrend to the area of 12 handle. The RSI indicator can't raise its head above the waterline beyond the 50 level and it favors the short. The invalidation level is set at the finish of the wave "e" of X at the 17.70 level. The minimum risk/reward then is equal to 2 and is healthily asymmetric.
TVC:SILVERShort
by aibek
2
HUI modest move upThe Index swings within a negative trend channel. It rebounded on the lower limit of the channel, also the fib retracement 38.2% (170). Since march 18 it climbed with little steps to the next resistance - a falling trend line, that is coming from june 2011. This had to be broken - what happened - to confirm the positive move. The trend line is now support and has been tested several times. In the last days the index has moved sideways, veering away from the support-line. While the index stayed on the same level, RSI has rosen - so there is a positive divergence between the index and the indicator with some probality that hte index will close it. Possibly RSI will fall or go sideways - both would not destruct the positive movement; unless the support doesn´t hold! HUI has much pace to the upper limit of the trend channel which is at around 200. That would be a gain of 11% from today. Once reached the limit we have to analyse if the momentum is strong enough to break through the resistance. Shortly behind there is a swing trend line and a double fib retracement! - I think at least at these levels we have to think about taking profit. No trade advice!
NYSE:HUILong
by Luettis