Chart: Gold stocks set to rise

I find monthly charts very helpful in giving an overview of where an index or a stock might be heading over the medium term.

Having a look at the 17 years monthly chart of the HUI which I have posted below shows how massively oversold gold equities were, with the MACD moving to amazing lows.

However, there is a very bullish crossover in the MACD, with both line indicators also turning upwards.

This means over the medium term gold equities should perform very well imo.