By the way, GDX and the XAU have already broken above similar lines to the line drawn on the above
HUI chart.
For another, angled lines drawn on charts, such as the lines drawn on
the HUI chart displayed above, are always subjective interpretations and somewhat arbitrary.
Not exact matches
The following
chart comparison of the
HUI and the NYSE Composite Index (NYA) shows that the gold - mining sector commenced a strong upward trend about 2.5 months after the start of the general equity bear market.
Here is a
chart illustrating this development — a performance comparison between gold, silver and the
HUI Index over the past 18 months:
Gold bullion and the Gold BUGS Index (
HUI) are close to breaking out to the upside on the daily
charts.