HUI – Gold Bugs Index (Last:428.38)

The rally is closing on a Hidden Pivot target at 437.33 that seems likely to show some stopping power. If it doesn’t, bulls should take encouragement — the moreso if the rally goes on to take out two peaks at, respectively, 443.13  and 453.12.  If the space between those numbers should be traversed without a pullback on the hourly chart, expect a test shortly thereafter of January 11’s key high at 475.32.