We are printing a flag here with an especially low volume on the last 2 days...
Sometimes next week it's going to break down. I was watching the chart today and noticed that on the 27th of February GDXJ lost all of its chance of going higher and printing a powerful intermediate cycle. It broke below the 100 EMA on high volume on that day. On the 15th of March it tried to regain the 100 EMA but failed.
So actually I think it was capped by a few big players in this whole IC... When gold is printing its first semester low in the following weeks GDXJ will give a unique opportunity for a few traders to load the trains with junior miners for the next decade.
When the technology bubble pops with these criptocurrencies these guys will be heading to gold's golden age with their horrible miner positions.
So I'm planning to collect some cash on this way down but sometimes this summer we will be buying our tickets to the miners bull train...
Till that time I'm holding my shorts.
Sometimes next week it's going to break down. I was watching the chart today and noticed that on the 27th of February GDXJ lost all of its chance of going higher and printing a powerful intermediate cycle. It broke below the 100 EMA on high volume on that day. On the 15th of March it tried to regain the 100 EMA but failed.
So actually I think it was capped by a few big players in this whole IC... When gold is printing its first semester low in the following weeks GDXJ will give a unique opportunity for a few traders to load the trains with junior miners for the next decade.
When the technology bubble pops with these criptocurrencies these guys will be heading to gold's golden age with their horrible miner positions.
So I'm planning to collect some cash on this way down but sometimes this summer we will be buying our tickets to the miners bull train...
Till that time I'm holding my shorts.
Comment:
We will break down the bear flag today.