Thoroughly agree Woteva. HUI bounced off 50dma a few days ago and has begun rising again. RSI's are only mid range so plenty of room to move up before being overbought. Fast Stochs are all bullish in gold and the HUI stocks as well as NCM and LGL. Strong rises from those two today in the face of a 1% market loss.
I'll go out on a limb here and say that we are about to break through the major downtrend line that has been in place since Mar 08 and move a decent amount higher, quite quickly testing the highs made in Mar 08. Depending on how you draw it resistance is anywhere from $880-$900, but $890 is considered the breakout by insto's. Only $30 away from it at the moment and there's every chance it could even be tonight.
Be ready people. Don't jump the gun by any means, but this is not the time to let the fear come into the decision making process. Forget the scars (and I know we all have them) and be decisive if and when you feel the time is right. The shares are showing far too much strength relative to the rest of the market for this not to be for real.
All the best
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Thoroughly agree Woteva. HUI bounced off 50dma a few days ago...
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