Gold and Silver Cross 50 SMA after Big Day, HUI Shows Accumulation Pattern

Compare Gold and Silver Dealers

In this video we discuss a few key observations:

1. Even though gold and silver had explosive moves up this past Friday, they are still in a downward price channel.
2. More notable than the size of the rally may be that gold and silver both closed above their respective 50 SMA, and continue to show a pattern of higher low.
3. HUI, an index of gold stocks, appears to be in a range after a decline -- a classic accumulation pattern.

Gold and Silver Cross 50 SMA after Big Day, HUI Shows Accumulation Pattern