A couple weeks ago I was compelled to give a 'heads up' to subscribers that a little bounce in HUI that was starting after the index dumped out of the short term uptrend (blue dotted line) line could be a Bear Flag. Then, after the flag began to form this was noted:
"This is a classic 'Bear Flag' setup until it gets above 520 at least."
HUI got no higher than 520 and tanked. Now, gold (GLD) and silver (SLV) appear to be Bear Flagging, which would be in line with current analysis because gold's best support target is lower. We'll see how it works out.
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"This is a classic 'Bear Flag' setup until it gets above 520 at least."
HUI got no higher than 520 and tanked. Now, gold (GLD) and silver (SLV) appear to be Bear Flagging, which would be in line with current analysis because gold's best support target is lower. We'll see how it works out.
http://www.biiwii.blogspot.com
http://www.biiwii.com
http://www.biiwii.com/NFTRH/subscribe.htm
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