The HUI is still in the channel and bounced smartly off the lower channel line at the recent low. That was a great entry point. Unfortunately, I was in a daze.
Gold is still sporting a bearish scenario that I think must be respected. This is a setup for a very significant correction. Note that it fell through the smaller wedge intraday and recoverd. It seems that just its presence has wreaked havoc on the smaller Canadian issues--at least in my portfolio.
Would sure like to see a hound here--a breakout above the top of the wedge.
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