It's a normal linear scale chart which gives another impression of gold than the logarithmic charts I published yesterday. (See links below). The whole chart cant stay within the picture but push the "-" bottom to see the trend lines. Fits well in a channel. Seems like gold is hanging in there.... on a sting!
I have looked at the EW count as an 5 wave down and therefore not corrective. I'll look into to it again to see if a corrective count is possible. I'll return later on that part.
Production cost for miners should be in the neighborhood off $1100. A stop around and a reversal here will keep the miners alive. An gold is continuously in strong demand. Google it....
Miners should shot down first. THAT will be the bottom. This is all noise ... until FOMC next week!
CoinedByCrypto
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Well I see it as great noise. Loose Ends was huge in the 80's ;) . Well any way. Maybe not needed to shut down... why not a consolidation phase where U see junior miners being bought by miners?