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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: maxncompany who wrote (38755)4/24/2007 12:05:54 PM
From: loantech  Read Replies (2) of 78420
 
Too much low dollar talk now gold down over 4 heading to down 10. But not according to this guy:

For the last year the HUI index has been "technically immobilized" in a lengthy consolidation pattern roughly between 280 and 360. The failure of February's rally to penetrate the upper boundary of this range resulted in a sharp sell-off, which provided an excellent buying opportunity (Update: Gold & Gold stocks: "A healthy pullback on a bullish playing field", March 5, 2007). Recently, the HUI index had a rally to its key resistance and reached the 368 level.

Technical and cyclical evidence suggests that the HUI index is on the verge of a major breakout from its consolidation pattern. Here are the reasons:

321gold.com
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