HUI – Gold Bugs Index (Last:257.18)

The latest phase of HUI’s collapse, now in its eighth month, has breached the lowest Hidden Pivot target that we could have projected using major patterns from the weekly chart. What now?  Shifting to a lesser-pattern ‘extension’ discernible within the C-D leg of the larger pattern, we find a 246.20 target not far beneath the so-far bear market low of 256.20. Camouflageurs take note: this looks like a high-odds spot for a tradable turn.