Global Economic
Trend Analysis

Recent Posts

Friday, March 06, 2009 9:55 AM

Gold, $HUI Looking Good

Mish Moved to MishTalk.Com Click to Visit.

Gold and miners continue to act very well. Here are some charts I am following. Click on any chart for a sharper image.

$HUI Daily Chart

On a daily chart the $HUI has been a good buy in general when the slow stochastic (10,3 on Stockcharts) has turned up from these levels.

On a retrace basis the $HUI is also acting well.

$HUI Fibonacci Levels

The $HUI has turned up on a perfect bounce off the 38.2% retrace move from the top. Moreover, the move down off the top appears to be a corrective a-b-c move. Further correction is possible, but longer term the $HUI is acting well.

Gold Daily Chart

US$ Index Daily

Gold and the US dollar have been rallying together for some time. This is what one would expect to see in deflation after the leverage in gold has been washed out.

Mike "Mish" Shedlock
Click Here
To Scroll Thru My Recent Post List

Last 10 Posts

Copyright 2009 Mike Shedlock. All Rights Reserved.
View My Stats