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.