Jun. 5 at 6:43 PM
$HL — chart damage is becoming hard to ignore.
The breakdown below horizontal support and the loss of the 200 EMA changed the character of this chart. What used to be a buy-the-dip setup is now starting to look like a sell-the-rally setup.
Even more concerning, the 50 EMA is beginning to roll over toward the 200 EMA, putting a potential death cross on the radar. It's not a signal on its own, but it reflects weakening momentum and deteriorating structure.
The psychology is straightforward: traders who bought support are now trapped below key levels, creating potential selling pressure on every bounce. Former support is now resistance, and
$HL has multiple overhead levels to reclaim before bulls regain control.
Until buyers can reclaim lost support and improve the structure, bears have the edge.
Is this just a temporary shakeout before the next move higher, or the beginning of a larger trend change for
$HL?
