|HUI / Gold: Daily observations over the last 6 months. (click to enlarge)|
|HUI / Gold: Daily observations year-to-date. (click to enlarge)|
The first graph disguises the initial slide of HUI/Gold during the first few months of 2018. Despite gold holding up relatively well during winter, miners have been persistently lagging.
What's left in Pandora's box?
All misfortunes have hit by now... According to Greek mythology, what's left in Pandora's box is hope. When having a closer look at the first graph, technical analysts will recognize the 'inverted head and shoulders' formation, which is about to be completed. This often is the prelude for a more substantial recovery of the HUI.
However this can only succeed if the yellow metal regains $1200 and stays well above, resuming its recovery in a hopelessly delayed autumn rally.