February 13th, 2012
Published Daily

HUI – Gold Bugs Index (Last:415.51)

by Rick Ackerman on March 11, 2010 8:02 am GMT

Dueling impulse legs on the weekly chart hint of more dithering for perhaps months to come. Even so, a dip to 377.95 would create a tempting buying opportunity, since that midpoint support is relatively isolated from the interference of prior lows. We’ll make it our minimum downside objective for now, subject to negation by a pop above 433.99, the point ‘C’ of the pattern.



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