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« The Precious Metals Stocks Suppressed Due The Recovery Of The S&P500 | Main | Wheaton Precious Metals Corporation: On The Up »
Monday
Apr222019

Gold Mining Gold Mining Stocks Still In Weak Hands (Part 4)

Preamble

It is 8 months since we penned part 3 of this post when The Gold Bugs Index (HUI) stood at 135. Since then things have improved for the precious metal sector and the HUI had risen to a peak of 180. Alas since then some of the euphoria has dissipated as profits were too good to resist for some investors and so they so they capitalized on their gains and disposed of their holdings.

The HUI Chart


This chart shows the rally from September 2018 to February 2019 where it peaked at 180, however, it struggled to hold its ground and fell back to 160. The technical indicators show the stochastics on the floor, but, the RSI and the MACD still have room to go lower in the near term. The effect of the golden crossover has now waned so it may be better to wait and let this correction run its course before making further acquisitions.

Read more

 

 gold is still like watching paint dry.....

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