I Think We Are There

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Screenshot 2022-11-23 at 16-03-03 NYSE ARCA GOLD BUGS INDEX (^HUI) Charts Data & News - Yahoo Finance.png

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.

Screenshot 2022-11-23 at 16-08-00 Gold Futures Price - Investing.com.png

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.

Screenshot 2022-11-23 at 16-10-51 Silver Futures Price - Investing.com.png

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!

I Think We Are There | Ecency