HUI Gold Bugs Index
1 Sep 2020 ● 12:42 PM
HUI is the code for the gold miners index or gold bugs index. The index is starting wave 3 on weekly charts, in fact 3 of 3. Here the first wave was 52% up so the third wvae could be an equal size and points to 481 on the index from 351 now. A rally in gold directly impacts mining stocks and we should keep an eye on it.
This is best replicated by funds like the DSP world gold fund. The same wav count marked on the fund chart shows wave 1 of 3 moving by 40% and if we presume the same then we see a 40% move that goes to near 30 in the 3rd wave.