Does anyone have an opinion on DGC and my analysis?
DGC looks to have completed a major corrective wave from 2011 to end of 2013. Since then its been forming what looks like a leading, contracting diagonal (Wave 1 of a new major wave). I'm still quite new to EWT, but my understanding is that the corrective wave after a contracting leading diagonal can be quite deep - 61.8 or 76.4 retracement of the preceding wave. If that's the case then DGC is set to drop by ~50%. Hard to believe given gold and gold stocks have been battered so badly for the last 4 years...
Am I missing something?
DGC looks to have completed a major corrective wave from 2011 to end of 2013. Since then its been forming what looks like a leading, contracting diagonal (Wave 1 of a new major wave). I'm still quite new to EWT, but my understanding is that the corrective wave after a contracting leading diagonal can be quite deep - 61.8 or 76.4 retracement of the preceding wave. If that's the case then DGC is set to drop by ~50%. Hard to believe given gold and gold stocks have been battered so badly for the last 4 years...
Am I missing something?