Bulls did a creditable job lifting the Gold Bugs Index from the abyss last week, but they’ll need just a little more push to get it past the 402.85 threshold where I’d said the hourly chart would trun decisively bullish. It’ll take a bit more than that, however — specifically, a rally exceeding 422.46 — to achieve the same, salubrious effect on the daily chart. The significance of these price points is shown in the inset.
