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HUI

Trading possibility within trend channelHUI has fallen from the upper limit of the descending trend channel to its lower limit. It rebounced on the lower level and now has rosen above the long descending trend channel - this is a good sign. If gold and silver don´t get weaker than they are actaully then we´ve got good chances that the HUI - Index will test the upper limit of the trend channel. Dollar is getting stronger; normally that is a good support for precious metals and the mines. Take profit-zone in the red circle. Stop when breaking the falling trend line.
NYSE:HUILong
by Luettis
GOLD. Buy on dips to 1286-1265. Target 1560As time goes by the picture gets clearer and I think the map has changed as we have another wave to the upside pending (wave C). Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2. It could drop deeper to the area highlighted with an orange box (1286-1265). It could be better to long there. Minimum target where C=A = 1560, which coincides with the 61.8% Fibonacci from the all time high to the major low. The risk should be limited at least below the start of wave 1 of C (1236).
TVC:GOLDLong
by aibek
2
GOLD AT LONG TERM RESISTANCE By the end of week we saw that gold soared but miners didn't-The HUI index didn't even close or move above it's march highs,silver performance was confusing or mixed but the question is why did gold rally where silver and miners didn't? Let's start from addressing our first question that why did gold rally in the previous week?from our analysis we think that the increased tension regarding interest rate and first fed meeting of powell's contribute a lot in temporary volatility which we have witnessed,when we tried to compare the performance of mining stocks relative to precious metals market it certainly seems that precious metal market wants to go down,but there is another fundamental development that precedes gold rally in short term,let's be practical some geopolitical event like trade problems between US and china and few threats between the north korea and US also have there own rule in escalating the price of gold in short term but what now? The movement of price will depend on two factors from here-first is how the investors want to react and second is based on how the safe haven factor comes into play due to trade conflict going on,we can predict the first factor,second factor is not in our control so why waste time there The long term factors present in chart can't be easily manipulated just like by recent news which caused short term upswing,The outlook remain clearly bearish,ok let's dive into chart www.tradingview.com we hade a similar situation in our previous post in which gold was likely to go down before the end of month.we also warned you about forming a triple-top and an extra upswing,we also dicussed how it was similar to what we already saw in the past Based on last week;s upswing did anything which we warned you become entirely validated? No,The rally didn't change the apex based turning points and it didn't change the fact eother that the shapes of declines are often similar.YES but one thing is surely changed that is the starting point of decline,if the price of gold declines like it used to be in the past then we could have expect that price will reach to the red rising support line in the fisrt half of april but as the situation no longer supports our earlier expectation the price level that we decribed previously stll likely to reached but a bit latter Gold's long term chart shows that even gold made its short term upswing but the upside potential from here is very limited,past multiple rallies occur ended close to 1350-1360 so the resistance is very strong,you have already witness the downfall in gold after reaching it's strong resistance silver upcoming reversal-The situation didn't change much in the case of silver,The white metal made a upswing on friday but the rally was not significant,silver only moved above the wednesday's intra high and closed the session to the apex of triangle,while if we go to our apex of triangle method-it's indicating a reversal,currently it serves as a perfect bearish signal,https://www.tradingview.com/x/AnorgvZT/ OK moving to gold stocks-Even after the upswing in gold, gold stocks didn't manage to move even to march high ,gold moved to previous 2018 high and mining stock are barely moving,This under performance has a lot to say,some may even argue with us that gold stocks weak performance is not really a bearish sign because it's only the result of declining stock market? as usual it doesn't explain the whole story,HUI INDEX didn't above 200 but only to 184-190 if that was the case we will not argue with them but gold stock performance was much weaker than just that-it didn't move close above 180 The S&P 500 index closed where it closed on 8th feb,on 8th feb gold closed at 1319 and HUI closed at 179,Yesterday gold closed at 1349 and HUI closed at 177,That's extreme underperformence and an increadible strong bearish sign our signals are well up-to-date
FX_IDC:XAUUSDShort
by NeerajPandey
HUI has left the roomHUI has just broken the lower limit of the trend channel, but also the support at 170 pt (fib retracement 38.2%). This is a very bearish sign, if it doesn´t turn immediately to re-enter the comfort zone. If not there is the risk that HUI would fall on 143 pt (fib retracement 23.6%) - with only one support line in between (160$). What is estonishing as well is the big gap between the HUI index course and the course of Gold. This "cries" for a correction and I wonder which it´ll be? Gold down or HUI up? Indicators are signalling more weakness so I do not expect that HUI goes up with the consquence that Gold will also have some losses.
NYSE:HUIShort
by Luettis
HUI in dangerThe index has crossed from the upper limit of the trend channel to its lower limit and is now very near to it. On this level we also find the fib retracement 38.2% . If it´s broken and the trend channel is left behind then HUI could continue to fall until the fib retracement at 23.6% (143 pt). On the other hand, if the price rebounds from the lower limit then short term gains can be made. Not to forget, there is a long trend line crossing the channel. Once above this trend line the index should gain strength. Watching the indicators RSI and MACD I see little chances for the better scenario, because the long trends aren´t broken yet. buy: only after the rebound with aim fib retracement 61.8% (214 pt) stop / short: when leaving the trend channel to the bottom
NYSE:HUI
by Luettis
1
HUI still in good positionbuy: above the dotted line (green arrow) the line connects three peaks of the past week stop: below the dotted line (red arrow) the line connects four valleys of the past week The index is above the long descending trend line (dashed line) RSI and MACD without strong signals = neutral With stocks and cryptos going down a switch of investments in metals and mines is possible (not yet). Interest rates are announced to rise (FED) but only in little steps. This shouldn´t stress the prices.
NYSE:HUI
by Luettis
HUIThe Index for unhedged Goldminers HUI has shown some movements - up and down. Since beginning of the year 2017 the index is catched between fibb level 23.6% and 38.2% - or shortly below. We have had a false break out at september 08 (bull trap). And in the following weeks performing a clear shs formation. At that time it was previsible that the index would fall - what it did. The dynamic was so immense that it broke through the resistance and since then it has stayed below. The positive news is, that MACD and RSI are rising and it seems they would continue a while. But the course must cross the resistance line (23.6%) to send a positive signal. Bollinger bands are tightening, so I think this "agony" will continue several days befor we´re about to see new dynamic. As Gold and Silver send positive signals too I expect a rise of the HUI at the end of this period.
NYSE:HUI
by Luettis
HUI Gold Index Breakout?The HUI has broken out of the ascending triangle and I expected it to fall further. But it stopped and turned - perhaps the index of the goldmines will return to the triangle. The time cycles show that around this point(+- some bars) one can expect a change in trend, as it has been in the past. The fibb retracement is now resistance and has to be broken if HUI shall rise higher. MACD neutral - turning to positive. MACD is above the long trend. RSI has already turned to positive and is continuing. If HUI can cross the resistance then it is possible that it`ll go up till 221 Points. Past ascents lasted between 26 to 36 bars and nearly 20% gain. This brings me to the mentioned conclusion. I see more chances for a rise than risks for a drop. Gold and Silver are neutral to positive. Dollar has strengthend. The fundamental facts of the explorers, royalty firms and miners are good.
NYSE:HUI
by Luettis
HUI The Index of the unhedged miners HUI is at the moment weak. The index is approaching the fibb retracement at 23,6% (190) . This fibb retracement isn´t a very good indicator, not so strong as others! MACD is neutral, but the trigger line (blue) is turning down. RSI is under 50 Points, that´s clearly negative terrain. With a little luck, the fibb retracement at 23,6% is strong enough to halt. So it could soon be a new buy opportunity! Silver and Gold are also weakening and dollar is strengthening. These components have a correlation (not 1 to 1). Whats next? a) interest rates in US smoothly higher - no big impact (probably in 2018) b) dollar strengthening - good for mining-stocks (but also watch the new economic power of the Yuan and Rubel) c) Gold and Silver - prices turning, rising - good for mining-stocks
NYSE:HUI
by Luettis