HUI – Gold Bugs Index (Last:393.30)

The 389.71 target of the bearish pattern shown is so sharply defined that the so-far small overshoot seems extremely likely to produce still lower lows.  For starters, we should use the 385.17 midpoint pivot of the pattern shown. Its breach, by more than 0.05-0.10 points would portend still more slippage to 364.53. Want to learn how to do this stuff yourself? Click here for a free trial subscription to Rick’s Picks.