HUI - Symmetrical Triangle Breaking to Upside...

So anyway, here's the Huey chart most recently shown in NFTRH130.  The upside target is well higher and I think this may get some fence sitters feeling pretty desperate.  More importantly, gold mining macro fundamental signposts remain intact and their state at the time of HUI hitting its upside target will decide whether said target is a selling opportunity or not.  Assuming this Sym-Tri breakout holds.

Funny thing about TA, it just does not care about what is going on around it, what Bullard said, what Plosser said.  Even as Gary the human became guarded, Gary the chart geek thought (and wrote in NFTRH130):

"Daily HUI gives no technical reason to be bearish the gold sector. In fact, many stock
and asset markets carry the same general status.


The Symmetrical Triangle still looks good; the index is above the 50 and 200 day moving
averages, as well as the (green) neckline that has been a battleground of late. These are
the technicals and they are good."

http://www.biiwii.blogspot.com
http://www.biiwii.com