Slowly but surely, Agnico is devoting itself to the current downwards pressure. Despite the occasional counter movement, the share should soon reach and break through the support at $31.03. Thus, it should arrive in the yellow zone between $19.10 and $10.08 to complete wave (2) in yellow. As soon as this is done and dusted, Agnico can turn upwards again, climb...
… or rather: Knock on the resistance at $45.42. Thrice, Agnico has rapped on this mark, without surmounting it, however. Now, the bears are back in charge and should continue to drag the price below the support at $31.03. There, Agnico should enter the yellow zone between $19.10 and $10.08 to finish wave (2) in yellow. There is a 35% chance, though, that the bulls...
This is what we tell the bears currently busy with Agnico. Our furry friends shouldn’t let themselves get distracted by the little countermovement, but should rather continue to focus on our primary scenario – just as they have been doing so admirably lately. Thus, we expect the stock price to resume the descent and to fall below the next support at $31.03....
Despite smaller counter movements, Agnico continues to follow our primary scenario. We expect it to fall below the support line at $45.42, which should confirm further descent below the next support at $31.03. However, there is a 32% chance that Agnico could chose the other direction and cross the resistance at $74.50, thus reinforcing upwards movement above the...
Agnico Eagle has stayed strong and has made it into the blue zone between $63.39 and $71.21 despite a momentary setback. If we now turn up our most motivating playlist, it should even climb a bit higher still to finish wave (b) in blue. Afterwards, Agnico Eagle should turn around and head in the direction of the support at $45.42. It should then fall below this...
Agnico Eagle Mines ( NYSE:AEM ) is the gold mining company that I picked as a long-term investment over many other miners such as Equinox and Barrick Gold. I picked it based on which countries have USD Swap Lines , an idea explained by Katusa Research in one of his videos on YouTube. I will explain it briefly here. A USD swap line is an open channel between the...
