[HUI] update

In the backlink I provided a model that showed HUI must turn upward immediately else it would confirm that everything since its Nov low was an a-b-c move.  HUI held onto that technical support level by a hair and has now begun to climb again.  As long as it stays in the channel and does not violate any key near term support levels, it looks like the next big wave up is now under way.

That red line should be your stop and a fall below the lower parallel rail should really concern you.  If HUI can't hold these key support levels then all M+M become suspect.

Zooming in, we can see that HUI is at a critical juncture.  Right now, the red path is my primary model with target price of $245 to the top of the channel.  It could also stall mid channel at $216 where 5 would = wave 1.  In Prechter's model, the eventual target should be in the $260 range just to get to the level of the prior 4th and 23.6 fib.  But I really would expect something more along the lines of the 38.2% fib at $333.68 before the gold rally is over as long as the key technical support hold.