Someone mentioned in the forum that recent lows had precisely caught a midpoint support near 519 that was flagged in the HUI video below. While this may be true, the pivot looks mighty shaky at the moment, and if it gives way the Gold Bugs Index would be vulnerable to a further fall to at least 507.82, or perhaps 504.27 if any lower. That said, the very first place a bull could look for a ‘camo’ boarding opportunity would come on an A-B pullback from just above the 522.22 look-to-the-left peak shown. This one is quite subtle — but subtlety, as you know, is the source of many of our best trading opportunities. _______ UPDATE (February 20): The HUI has made a tentative bottom at 505.07
