Wednesday, July 20, 2011
Rally not done yet...
Roadmap into August and September. How far the extended wedge goes cannot be determined now but target is around 1420-1450.
Wednesday, July 13, 2011
More upside for PM or a pullback is imminent?
$HUI:$GOLD ratio still has more room to move to the upside:
$HUI and GDX daily chart show overbought condition and I feel more comfortable to see it retrace a bit before moving higher. If $HUI:$GOLD ratio is going to the "normal" level, I expect to see $HUI and GDX to move at least 10% higher in the near future. Word of caution, nothing goes straight up and straight down.
$HUI and GDX daily chart show overbought condition and I feel more comfortable to see it retrace a bit before moving higher. If $HUI:$GOLD ratio is going to the "normal" level, I expect to see $HUI and GDX to move at least 10% higher in the near future. Word of caution, nothing goes straight up and straight down.
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