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Gold Bugs Index breaks above resistance cluster, says Joe Friday

By kimblechartingsolutions
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Courtesy of Chris Kimble.

joe friday pic

Below looks at the Gold Bugs Index (HUI) over the past decade. The rally this year has taken the Gold Bugs index up to test a cluster of resistance.

joe friday gold bugs index breaking above cluster of resistance aug 12

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Gold Bugs Index was presented with a cluster of resistance and so far it is attempting to breakout, above several resistance lines.

gold bugs spy ratio breaks above cluster of resistance aug 12

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Even though the broad market is at all-time highs, Gold Bugs continues to reflect relative strength over the S&P 500.

Joe Friday Just The Facts; Gold Bugs Index and Gold Bugs/S&P ratio are both attempting breakouts above a cluster or resistance lines.

If you would like to stay on top of these patterns in the metals space, we would be honored if you were a Premium or Metals Member.

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