At least in the HUI, I think we are there as the HUI closes today above the previous HIGH. An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.
And as of today, it does appear that the HUI has made a series of HIGHER HIGHS and most importantly a HIGHER LOW.
Gold posted an outside bar to the upside. Outside bars are very important as these bars can signal a significant change in trend.
Gold still needs to take out the prior HIGH to clearly establish a change in trend.
Silver is similar to gold in as much as silver posted an outside bar to the upside. All that remains for silver is to take out the prior high.
Have a Happy Thanksgiving!
