“I say it didn't break out of the downtrend channel when it tested resistance because of more negative indicators over positive ones Chuk. The state of the markets had nothing to do with it whatsoever.”
I would say the state of the market had everything to do with it.
I will pay more attention to the gold sector and markets than ABU's indicators. I believe that is a far more reliable indicator.
If ABU's indicators were all positive and the markets dropped heavily overnight; or if the gold price jumped $80 and the HUI jumped 7% but ABU's indicators were negative, what would should I pay more attention to?
chart, page-83
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