Still work to do before the next phase of the PM bull market $375 is the number HUI needs to sustain above to push PM stocks a lot higher.
Correction Coming?If Gold is finishing its Primary Wave 3, then the miners would expect to join it. But instead of them being in an impulse patten, like gold. The miners seem to be in a Wave3 Ending Diagonal pattern, in a larger C wave correction.
Gold Miners(HUI) - Massive Upmove ComingGold Miners have been underperforming as compared to Spot Gold Prices. Going forward Gold Miners should outperform Gold.
GDX, NUGT some of the Gold Miner ETF's.
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Gold miners looking good!If the miners can finally break out of a long-term corrective triangle, then there is potential for an 80%+ move over the next few years.
GOLD👑 (XAUUSD) KEY LEVEL TO WATCH 👀AND WHY 15 MAYTraders, in order to buy and sell, make decisions based on price history and use patterns to identify future price movements.
Successful pattern trading requires the acknowledgement of identifying trends, consolidations, support resistance levels and reversal to place stops and targets to forecas
Long Term Gold Miners.Possible Triangle in a B Wave correction. Then, maybe, setting up for a final C wave move up to $500 or more.
Which would be followed by either, a final very quick 5 wave move back to 2015 low, or a more slower correction in a Y Wave back to similar levels.
HUI on a weekly trend channel chartThe Bear trend still dominates the Gold Miners in this Trend Channel Chart Weekly view. A break-out and back-test of the obvious Bear shoulder is needed before the Bull Swing can get going. Look to the Trend channel rails for price targets.
Expanding ending diagonal (extended 5th wave)Here's my analysis of HUI, gold bugs index. . In my analysis, wave (1) , (2), (3) and (4) all have 3 wave structure, with wave (4) more complex and time consuming than wave (2). This phenomenon usually points to a 5th wave extension. Another observation is wave (4) overlaps with wave (1), which lea
Gold Miners Quarterly Log ChartWhat is good for #gold miners, is also good for #bitcoin (or any other instrument).
Until 31K-35K is cleared, be wary of rug pulls.
#fintwit
$HUI Lewis and the news ...The $HUI is looking ripe for a breakout of this ascending triangle. The resistance line will break this week. Look out above ....
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Displays a symbol's price movements over previous years to identify recurring trends.