Just an FYI update that HUI has hit 230 this morning, which was the first in the target chain:
230 > 212 > 185 > anything above the 2020 crash low
Here is the busy chart we used to manage the failure at resistance (325) and subsequent decline (with downside targets).
It shows the first two targets, including the 62% Fib retrace of the rally out of the 2020 crash low (this is an important one to have registered and personally keeps me in open minded mode because it could be a valid low considering that the index is also in a thick longer-term support area). Huey hit 229.69 this morning. The 2nd target is a gap left open at 212 from the 2020 recovery. The third and least reliable in my opinion is 185, which is a rough measurement of the bearish pattern that formed in 2021.
Just an FYI technical update for anyone interested.