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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 is the founder of goldstockbull.com. He previously worked in data analytics for the world's largest research firm, consulting to Fortune 500 companies globally. Jason eventually leveraged those skills to trade successfully full-time and after helping friends and family optimize their investments, he launched Gold Stock Bull and The GSB Contrarian Report newsletter. Jason is a cycles investor with a contrarian eye for identifying undervalued assets. He has built an expertise in both the precious metals and cryptocurrency markets. Jason believes in honest money, limited government, decentralization of power and enjoys studying alternative economic models.