Comments: Like a hot knife through butter, the selling in the HUI has taken out the uptrend support without even a pause. At this point, the most likely scenario will be for the HUI to spend some time--possibly even a few months--below the 200 day MA. Not the most pleasant of prospects, to be sure. This will create a more challening environment for swing traders in the gold sector, but not an impossible one.
Monday, September 11, 2006
HUI Chart & Commentary
Comments: Like a hot knife through butter, the selling in the HUI has taken out the uptrend support without even a pause. At this point, the most likely scenario will be for the HUI to spend some time--possibly even a few months--below the 200 day MA. Not the most pleasant of prospects, to be sure. This will create a more challening environment for swing traders in the gold sector, but not an impossible one.
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