Our call on the commodity, for the last 20 months has been: lower, and for the last 15 months we've been targeting ~$875. Should the metal trade there the miners in the HUI would have some serious cash flow problems.
From Kimble Charting Solutions:
The Gold Bugs index remains above support that dates back 10-years. Over the past year and a half, the index has created a pennant pattern, a series of lower highs and high lows, teasing both the bulls and bears.
As you can see, this pattern will be coming to an end soon. Pennant patterns are popular for suggesting that a large move is ahead, yet which direction is a different story. This pattern does fall under the continuation of trend category, anything is possible though!....MORE
