The HUI has got a nice bounce, moving from 146.00 to 200.87. It's nothing to sneeze at.
As you can see the move to 200.87 also broke a downtrend line dating back to September of 2012.
Yet, there are still a few tests to come:
1) Can the HUI break above the trend line dating back to August of 2013?
2) Will the HUI be able to break out of the Andrews' Pitchfork? Its current upper parallel channel is currently a little below 250.00.
Some of this will depend on whether the gold price is moving higher or if gold is approaching overbought levels and the price pulls back.
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