The Gold Bugs Index (HUI) has just completed the right side of a 1 1/2 year Cup as it stalled out near its previous high of 400 that occurred in the middle part of 2006. The last time the HUI developed a bullish looking chart pattern was in 2005 as it formed a Double Bottom pattern which was then followed by 8 week consolidation period as it developed a Handle (H). The HUI then broke out in late 2005 and made a substantial move higher before peaking in the middle part of 2006. I expect we may see another consolidation period over the next[...]
Read More...
[Source: The Money Blogs]
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment