I've been long for a while now and things are working out fine. Looks like we are 8 days into the cycle. The cycles appear to last around 18-27 days. If this is right translated we can expect at least another week of gains. We should get a 1/2 cycle pullback next week and a continued move higher after that if this is an ICL. A word of caution, the last two times GDX hit against the 50sma it reversed. We are slightly above it right now, so it looks good to continue higher. We should know this week. Once/if we clear the 50 prices should move steadily higher for a while.
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Gold is consolidating into a bull flag, once complete the trend should continue higher. Look for the selling to stop around 1165 and a future top at 1204
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Gold driving higher looks good for miners this week.
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Following GOLD for a clue on the miners. Looks like $1204 is the target. Almost perfect symmetry in the 3 drive to a top pattern.
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Penant forming on GDX hourly. If it breaks to the downside, I'll sell everything. If it breaks to the upside I see somewhere in the box. $24.43
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The plan is going smoothly. Should be a move higher up to the box
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I suspect that with US Dollar hitting a support zone (purple arrows) we will get a bounce. I expect a reverse in the USD to the 38.2% fibo or 101.63. That will be another buying opportunity. I can see a H&S pattern forming in the USD which will benefit GOLD and MINERS.
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I suspect we get another push down in Gold, perhaps to the 1180 area, Bear Flag forming on the 2 hr chart.
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Double top in GOLD? Hopefully not, but be aware.
Trade closed: target reached:
Closed all my miners Yesterday. mostly cash now. Working out great.