crusty, caution is the order of the day...
195 on the monthly chart you posted seems to provide some good bar chart support, and I'd expect a holding here, maybe a bounce to about 207 HUI, but if 195 HUI gives, $390 Gold by much, and the dollar goes on above its 200 day ema, which it closed above of Friday, HUI quotes of 165-155 are certainly possible..
Valuations among the miners I hardly fine cheap....we're not at 50 HUI....infact a 50% retrace of the whole move would be in the area noted above....155 HUI...
We're not trading on the fundamentals the gold bugs most respect...again we will...Currently, it seems to be the unwinding of carry trades that is driving affairs, here...The ideology of PM investing has to be tempered when the technicals dictate, as such has been the case the last couple of weeks...
Repeating your reference.
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