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HUI & XAU

Au-myn

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#1
The HUI and XAU both broke out of their long term bear markets today with Bullish Signal formation buy signals that penetrated the bearish resistance line on these long term Point & Figure charts.

Just the beginning of a long journey upward.

hui 2.png

xau 2.png
 

Au-myn

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#3
Hay d-lod!

Need to complete the first buy signal as we are in a row of X's (demand) before calculating the PO in P & F charting.

So, we wait for the first row of O's (supply). Until then, keep going UP!!!
 

Goldhedge

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#4
Can you put in O's (different color perhaps) so we can 'see' what that would look like?
 

Au-myn

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#7
New buy signals for both indexes today.

The HUI issued a buy signal on a Bullish Signal formation at 224 after pushing the upper limits of its bullish resistance line and moving across the ascending trend channel.

hui2.png


The last two patterns on the XAU - Triple Top and Double top formations ride the Bullish support line and re validate the trend.

xau2.png
 

Goldhedge

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#8

savvydon

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#9
Miners holding up quite well in the face of today's silver onslaught.
 

Au-myn

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#10
Do you buy stocks based upon this buy signal?
It is one tool to use when looking into buying PM stocks. You can look up the companies in this index and see how the are performing individually and against other indexes for relative strength.
 

Au-myn

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#11
Well, here we are again. The pressure is on.

Will the PM Indexes explode upward?

These are about half scale of the traditional scale charts. A closer look at the PM Indexes. Both indexes are in the process of building a Bullish symmetrical triangle.

The long red line ascending on a 45 degree angle on the HUI chart is an ITL - intermediate trend line. A minimum of four squares in sequence is required. Penetration of an ITL indicates an intermediate top so we would like to get a breakout to the up side.

The XAU Bullish support line has been violated however, no sell signals were issued so, technically the chart is still bullish.

X H.png
 

Zed

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#12
There is a big gap between current gold stock value v gold and the eventual relationship. When stocks at large become weak gold stocks will be seen as a cheap "value" destination. The potential here is big.
 

Goldhedge

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#15
Looks like a downturn is on the way..
been thinking/feeling that too...

It's all in limbo like stagnant water....
 

Au-myn

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#16
Well, we got a reversal of trend on the HUI chart with a #2 Double Top formation buy signal at 234. This pattern usually appears at market bottoms.

hui2.png


The XAU held its position at the Bullish support line and reversed issuing the first of four buy signals at 105 to complete the Quadruple Top formation (first top 104, second 106, third 108 and fourth top will be 109).
xau2.png
 

dpong

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#17
Great job, Au-myn!
Many commentators are confused by recent action.
 

dpong

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#19
Bump the liftoff.

:thumbs up 2:
 

Strawboss

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#21
One more good day and the XAU might just give the signal...
 

Strawboss

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#24
1584791710381.png
 

Au-myn

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#25
Major breakouts on these long term P & F charts.

The HUI (upper chart) issued a buy signal at 280 on a Reversal Symmetrical Triangle formation.

The XAU buy signal occurred at 120 on a Reversal Triple Top formation.

H X 2.png
 

Strawboss

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#28
An interesting 1,920 comparison.

View attachment 174239
My initial reaction is to think that its because the reserves of today are a fraction of the reserves of the gold miners back in 2011/2012...

No idea if that is true or not...