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Gold/Mining/Energy : Precious and Base Metal Investing
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To: re3 who wrote (26490)1/7/2004 5:54:04 AM
From: paul ross   of 39344
 
Could also be forming an ascending triangle formation:

1. Short term double top formations not as reliable a toping indicator as doubletops that have occurred over a longer period of time.

2. A market tends to repeat formations that have preceded it.

Last time HUI had a ST double top was in July in the 150 area, and proceeded to break out into new highs. Key might be 50 DMA which has held since July. If 50 DMA holds in this current pullback, we may bounce up to new highs.JMHO.

finance.yahoo.com^HUI&t=6m&l=off&z=m&q=b&p=m200,m50&a=&c=
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