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HUI Breaks Resistance – Gold Stocks to Rise

The HUI finally closed above our key resistance level of 353, albeit just barely. A beautiful ascending triangle has nearly completed and the RSI turned up nicely. We will still wait for next week’s open to confirm, but this very well could be the time we have been waiting for. If 353 holds, we don’t expect any resistance until at least 420. That move represents a gain of 20% and could happen in a hurry. But how about letting the chart speak for itself…

HUI Breakout 9-1

A few of our favorite picks for this upcoming ride include: AUY, BGO, FRG, NXG, and SLW. But we expect “all aboard” for this next move, meaning you could close your eyes, spin in circles and point at anything on a list of gold and silver stocks (unhedged ideally) and make out quite well over the next few months.

We will confirm our actions next week and post our positions for public scrutiny. So smile and enjoy the weekend. Good times are ahead!

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By | 2017-03-23T14:06:43+00:00 September 2nd, 2006|Gold & Silver Commentary|

About the Author:

Jason Hamlin is the founder of Gold Stock Bull and has been investing in precious metals for over 20 years. Jason spent nearly a decade in analytics for the world’s largest market research firm, before finding success investing full time. He launched Gold Stock Bull in 2005 and turned his focus from helping fortune 500 companies to helping individual investors. Jason is a student of Austrian economics and a proponent of cryptocurrencies such as bitcoin and ethereum.