AMEX:TRX TANZANIAN ROYALTY EXPL CORP
Will be a nice buy around 2.00 SHS target zone
Looking with EW eyes. It's almost impossible to count any waves from the recent top. A bounce here at 2.60 could be setting up an a-b-c- Elliott wave. The b-wave would then create a bear flag before the c wave heading lower. This lower low would then be under the shs target zone at the 1.70 area ( within harmonic pattern terminology it would be a A-B-C-D). Here a capitulation could end and we could see a quick intraday snap back to the 2.00 support line - creating a hammer candlestick. The bottom would be in. But it's only guessing right now. Let's see some more price action and make sure of the bear before selling his skin.
Yes...but I think the banksters are setting up for a US debt default and having gold miners squeezed to a minimum and going then long ...would be a goldmine. TRX could also be setting up for a huge IHS with a neckline around 4$. Head around 2 and target at 8$...wow! Fib time would be 13 days...so 3 more to go.
It more and more looks like TRX finally have found it's bottom 0,03 points above my shs and fib target. Nothing is for sure yet but are we having a follow through tomorrow ...I will only be looking for that this could be a wave 4 up in the EW terminology. ( Will look at the count later this week)