Which will win out, increasingly supportive (contrarian) sentiment or the topping patterns? Well, here is another view of New Gold (NGD daily chart shown the other day) from a weekly perspective.
Sometimes looking at individual situations can be interesting. That is a truly frightening looking pattern (breaking the neckline), but there is also major support and a trend line at 9. The pattern targets 4 and the support indicates a potential buying opportunity at 9.
I am not going to sit here and pretend I know which will win out with NGD, just as I don't know for sure about HUI/GDX. There's that pesky 'he often says "I don't know what's happening" issue again. :-)
But I don't. So I sure am interested to see if coming realities meet up with current probabilities and expectations. That's for sure.