Memorial Archives

A Look At The HUI
posted Feb 5, 2005 at 01:09PM

Daily Chart

Now trading below 200dma. Some potential bullish divergences. The 200 level is now short-term resistance and above that is the 200 dma. Both could be used as swing lines for aggressive short-term trading if that is your cup of tea right now.

Weekly Chart

The index reamins on IT sell mode. It is at major trend-line support with the stochastics bottomed out. Again the big concern is the relative underperformance with the USD which is nowhere close to topping out as in times past.

HUI/Gold Ratio

Remains in bear mode.

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