Precious metals continue to out-perform and its carried over to mining stocks.
But mining stocks are nearing potential breakout resistance that, if surpassed, could mean big things ahead.
Today, we highlight this through a popular gold mining index, The Gold Bugs Index (HUI).
HUI is looking strong and approaching a key juncture in time and price. But it has pulled back a little recently. Will we see more buying and a breakout next?
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$HUI Gold Bugs (Mining) Index “monthly” Chart
Okay, the Gold Bugs (and Miners) have been on a buy signal since breaking above its down-trend line. But now it could get a second signal if it breaks to new 12 year highs. Below is a long-term “monthly” chart through March.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
