NYSE:AEM Agnico Eagle Mines Limited
Slowly but surely, Agnico is devoting itself to the current downwards pressure. Despite the occasional counter movement, the share should soon reach and break through the support at $31.03. Thus, it should arrive in the yellow zone between $19.10 and $10.08 to complete wave (2) in yellow. As soon as this is done and dusted, Agnico can turn upwards again, climb back above $31.03 and further northwards from there. A 25% chance remains, though, that the share could get dragged above the resistance at $67.14 instead. In that case, we would expect the ascent to continue above $89.16 as well.