The Hidden Gold Miners Support

Actually, there can be no better entry date in Gold and Silver Stocks than now.

Please start to accumulate Gold and Silver Miners! The Miners are now expected to rise steadily into December-January 2018, with the final high of 2017 having to be printed in the course of December!

When it comes to analyze the Gold Miners I like best doing it by means of the HUI (NYSE Arca Gold BUGS INDEX). And the HUI now clearly signals that the recent correction bottomed finally after a "classic" 5-week down cycle at this week low which likely is the NEXT HIGHER 3-month-cycle low.

At 195.10pts week low, the market started to reverse at extremely important, strong, hidden support:

Above is HUI in the weekly chart, starting 2013. Hidden HUI Support is highlighted in fat-dark-green, this support is confirmed elliptical support in the yearly time frame, responsible for braking the HUI at the final lows of the years 2013 + 2014. In the final stage of the last bear market the elliptical trail was important, obvious negative tested resistance threshold.

After the then upwards sloping elliptical trail was recaptured at the beginning of the 2016 bull market the elliptical support was successfully tested back at the higher year 2016 low (December) which was the final higher 1-year-cycle low.

Next important higher bull market low triggered by elliptical support trail is 2017 summer doldrums low. This was higher 6-month cycle low (early-July) compared to important December 2016 higher bull market low.

Now the HUI once again made a touchdown into upwards sloping elliptical trail and obviously the elliptical support is able to release renewed upwards forces because this week fired a bullish reversal candle and that in turn implies:

A) Recent correction cycle which began at # 1, falling red-dotted weekly 2017 resistance bottomed at yearly elliptical support after a classic 5-week Fib number down leg.

B) The rising elliptical support appears again to trigger an intermediate higher low in the bull market, which is probably a higher 3-month-cycle low!

C) Lounch! = With a high probability a new multi-week upcycle was triggered at this week 195.10pts low.

CA) Usually the likely started weekly upcycle will test - at least - the falling red-dotted weekly 2017 resistance!

CB) Because after the almost usual September-October weakness the November to December time period tends to be always the strongest in the trading year for the Gold and Silver Mining Stocks, the HUI now has high odd to find its year`s high in the course of December 2017!

==> I think and I expect that the HUI is able to overcome its dominating 2017 resistance trail in course of November-December 2017. Reason for this expectant attitude is that this week low = current October low additionally tested back the 193-194pts area successfully from above, which is a horizontal HUI pivot in the major important DECADE TIME FRAME.

The last time I analyzed the importance of the 193-194 HUI-DECADE pivot was also the last time I´ve forcasted the HUI for the public - www.gunner24.com/newsletter/nl-032617 "HUI - Timing is always the Hardest Part":

See the most telling part of monthly HUI chart as delivered on 03/26/2017. Please observe by your own the light-green highlighted major importance of the 193-194 horizontal pivot. For the past, for this DECADE and for now...

==> If now this week low, the likely higher 3-month-cycle low, the likely next higher bull market low at same time found support at 193-194pts DECADE SUPPORT Horizontal and the rising yearly elliptical support a very powerfull weekly upcycle could emerge out of that combined yearly and DECADE support! A weekly upcycle which easily could unfold into December 2017, even January 2018, perhaps pulverizing any given resistance which was built this year.

Next, I would like to show you a piece of jewelery that illustrates that the HUI now is at the crossroads. Its the same weekly chart, as presented at the beginning of this Gold and Silver Miners buy recommendation. Same X axis/Y axis adjustments. Same price/time relation.

Over the weekly chart we create a very simple tool. A circular GUNNER24 Up Setup that measures from 2016 Bear Market Low upwards to the final high of 2016:

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