My phase of time stresses as noted in NFTRH 340’s opening segment is kicking in a bit, but darned if I will miss the notable things like HUI below.
So this is a simple note and chart showing HUI breaking through the 180 level we have been calling key to a further bounce and one day, possibly a bull market.
The resistance at 180 was important to keep an extended ‘anti-USD’ bounce going. A rise above 211 is key to open a ‘new bull market’ narrative if it should happen down the road.
Insert here the usual discussion about FOMC, data and volatility. But strictly going by the chart, it’s looking good. Sector volume is not bad either. A close above 180 this week would be optimal in gauging further upside.