I believe that the HUI has completed a 5 wave down and hence the C. Using rules of thumb, we can expect this upward A that we are in to end at about 340. From there we should see an abc down that probably will not reach the prior low (but could) and should complete within 3 weeks. From there we should start another rally from which upside price and time targets can be set.

aurum HUI

hui.jpg

Note added November 24. The above outlook proved to be incorrect because of one error - wave 5 extended down - something I did not foresee.