HUI

The Index of the unhedged miners HUI is at the moment weak.
The index is approaching the fibb retracement at 23,6% (190) . This fibb retracement isn´t a very good indicator, not so strong as others!
MACD is neutral, but the trigger line (blue) is turning down.
RSI is under 50 Points, that´s clearly negative terrain.

With a little luck, the fibb retracement at 23,6% is strong enough to halt.
So it could soon be a new buy opportunity!

Silver and Gold are also weakening and dollar is strengthening. These components have a correlation (not 1 to 1).

Whats next?
a) interest rates in US smoothly higher - no big impact (probably in 2018)
b) dollar strengthening - good for mining-stocks (but also watch the new economic power of the Yuan and Rubel)
c) Gold and Silver - prices turning, rising - good for mining-stocks

Comentário:

HUI has broken fibb retracement at 23,6% (190.12). RSI deep in negative terrain, but not far away from 30. This has been in the past the point, where RSI turned and HUI climbed.
MACD nearly neutral.
I do not expect that HUI will fall very deep. Turning point should be between 190 and 180.