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Both Gold Futures and Gold Stocks (HUI) remain on their respective steep rising 10-
year support lines. The question now is whether or not support and oversold sentiment conditions keep Gold and the HUI from falling any further. [Let’s hope not!]
So writes Chris Kimble (http://blog.kimblechartingsolutions.com) in edited excerpts from his original post* entitled Gold bugs about to crawl higher here?
This post is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds), www.munKNEE.com (Your Key to Making Money!) and the Intelligence Report newsletter (It’s free – sign up here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Kimble goes on to say in further edited excerpts:
[As can also be seen in the charts below HUI] sentiment (inset chart) remains more oversold than any other major asset class. Odds would favor a bounce here. [Check out Gold’s action on stockcharts.com here and HUI’s here.]
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Gold and Gold bugs don’t want to see this support fail to hold.
Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
*http://blog.kimblechartingsolutions.com/2013/04/gold-bugs-about-to-crawl-higher-here/
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