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We are becoming increasingly optimistic about the short-term outlook for gold stocks. In the chart below, the HUI bounced nicely off the 200-day moving average and has since shot up through the 50-day moving average. We anticipate this action to be the precursor to a sharp upside breakout. Head fake? We [...] Gold had become extremely overbought in May, with the HUI breaching 400 for the first time since this bull began. As is typical for this market, it also overshot in the selloff, which took the HUI down to 270 in just one month!. With the war between Israel and Lebanon, it wasn’t surprising to [...] |
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