A pullback in yellow wave (2) almost hit 61.8% of yellow wave (1). Now we see the strong minor impulse to the upside. It can be a part of large yellow wave (3). The target is projected at the distance of 1.618x of wave (1) with aim at $2,577. Watch how price breaks above the top of wave (1) beyond $2,086 Risk/reward is 1:2.5, one could get it better if goes on a...
Miners may finally be at or near a medium term bottom. They were up nicely today while gold was down. Also the technical are good. They are at the primary trendline, and there is a bullish RSI divergence. There is major support around 31, but not sure it will get down there.
My favorite ratio for cutting through the noise is an LT view of Gold/Oz($) : HUI (the Gold Bugs Index). Generally when it rises we gold bugs suffer because the price isn't reflecting our buying habits. That's why I'm looking for the next bottom on this chart sometime in July that might coincide with this broadening wedge... A date that keeps recurring for me is...
We have also retraced 50% from the march lows to the top
In the next next 2 years gold and HUI will rise significantly while DJI will fall by further 50%. HUI:Gold ratio which is still quite low (0,16) will rise to about 0,45. Enter mines now and exit after HUI:Gold exceeds 0,4.
The earlier idea could be completed as structure gets more complex with possible double three WXY to emerge. The drop into blue box should occur then to make a wave X retracement. Then the metal could hit 22.50 when another zigzag up in wave Y unfolds.
The wave (4) has been completed as per the plan (see related). The wave (5) could be extended and of the same size as wave (3) and it can hit the all-time high and even higher level of 1965.
Behold the rarely seen "Gold Mushroom"™️ ©️ pattern! Some mushrooms are poisonous! Be careful out here! Always consult with professional mushroom pickers!
Gold got stuck in an extended consolidation of wave 4, which shapes double three WXY. The completion of the last wave Y down is expected at the low of wave W around $1658. Then the last wave 5 , that was widely expected long ago could kick off finally. The target area is highlighted with a blue box between 1805 and 1921.
The Breakout is confirming as a Trading Range formed with low volumes during the past few weeks. Following a few weeks of low activity, very-large volumes were registered today. Price is heading toward the next Resistance of the upper Ranging Channel at $7.8. This movement could very easily push the price all the way to the next Resistance at $8.0 to a new...
Wave 4 emerged as triangle ABCDE. The price broke above the BD trendline / upside of the triangle. Target is between 1860 (Fib based) and 1880 (simple upside of trend channel).
Long Gold stocks HUI and short Financial XLF ratio close to 15 level breakout. Above and we are off to the races. Note the post 2008 crisis long term outperformance.
Triangle broke, sentiment hot, buying pullbacks $GDX, $GDXJ, $SIL
NYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards. Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot. I am entering with idea to hold it...
I combined both H&S pattern with EW analysis. On EW side we see the 1st impulse down and now we are in a pullback ABC. The C wave is pending. It is probably the initial move down in gold within a huge drop down at least we could see 1200 again and it depends on what structure would unfold then. Pattern is simple and we should watch the breakdown of the...
Falling wedge at decade old channel line $GC_F, $GDX, $GDXJ
Gold was falling for a long time without a good pullback. Now we are in that very corrective move as metal rebounded strongly from the 1180 area. C=A around the area of the earlier low (1237), this is how amazingly the simple geometry works.
Gold drops below the triangular consolidation. Target 1123 (just above earlier low) Stop 1212 (just above wave E) Entry 1196 (current) Risk/reward 4.56