HUI Path

I would say HUI 208 is a key area of resistance. It has been an important level of support/resistance in the last 18 months and worth watching. That is what the charts below suggest. When we broke down through this level in the winter, I knew then the 2004 lows would be retested. Follow the bouncing ball.





First we need to go down before we can take another run at 208 again IMO.

cheers,

john

The way the gold indices are behaving on this pullback suggests another run at HUI 208 is in the cards, and if broken a test of the March high. Question always is when. Support at HUI 194 and XAU 90 has been compelling so far. Wave wise if these levels hold, a 5th wave up from here would produce a nice run. No idea if it is in the cards though. I'll have to keep watch for points of entry (might even have to start now), which is much sooner than I expected. cheers, john

Edited by SilentOne, 23 June 2005 - 09:33 AM.

Well, Any positions taken yesterday were reversed at the open this morning. I have no idea what's next and I'll stick to watching from here. cheers, john

Well,
I have no idea what's next and I'll stick to watching from here.
cheers,
john

<{POST_SNAPBACK}>

I do like your charts.

Hi MSS,

The godmode charts are not my material. I keep posting them as the chartist there tends to draw excellent lines and highlights points of S/R.

Godmode Trader

But if I did post my own crayola charts, I would always hope they are that good.

cheers,

john