Its been a rough couple of years for the Gold Bugs index (HUI), as its lost almost two-thirds of its value. The large decline has driven the Gold Bugs index (HUI) on a monthly basis, down to dual long-term support lines, in the chart above.

Support is support until broken!

If this support fails to hold for the Gold Bugs index, the next support line is a long way down there! 

Metals members harvested gains of late in metals stocks and will be looking to re-enter longs on what happens at this support line. (see post here).

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past