The ^HUI (Amex Gold Bugs) tried to raise the last weeks but there was a price pressure which doesn’t let it go up. What we see now is a Gold price which looses power and could enter a small trend to go down for a while.
Daily Amex Gold Bugs Chart
The price (uptrend/blue) entered a trendless phase. This is no man’s land.
Weekly Amex Gold Bugs Chart
The weekly chart shows us that the price is also on no man’s land, but came from a downtrend area (red). The last candle has a very small body, that shows us the traders are undecided. At least the weekly downtrend is not broken.
Hey, perhaps it’s the last time we will see it going down this year 
