We have 3 major trends that will collide next week. Should get to 1800 next week, then bounce off the primary wave for a healthy correction. But you never know with gold these days. Its quite bullish. If it breaks out of the primary wave, it will go exponential.
Gold's summer season is here and everything looks to be similar to 2011,2016, and 2019. Which means new highs all the way till September. Miners are already starting to benefit. GDXJ might need to close the month lower, but then its 52 to ???
Ok gold , ok... I get it already... buy when it touches the hot pink line... sheesh
Looks that way so far. (using log) I copied the chart from 95 to 2011 and pasted it such that the bowls match up. We might have 8000 gold by 2028.
I see a chance to go long here in AUY. I bought two days ago at the small arrow. I see it as a breakout today. I believe if you look at the mining sector everything is moving higher. Price is above the supporting moving averages and moving above the trend line. I also bought JNUG and added today.
There is a correction on place. This is another scenario. GDXJ could fall minimum 42, and not lower than 38 range. I´m comparing it to what happened last year.
Looks like we need to wait a day or so for the next leg up. New month on wed, or payrolls on Thursday may trigger it.
Gold closed at $1,780.3/oz this week which is the fourth highest weekly closing price in history. The highest weekly closing price was $1,876/oz set in August 2011 and the second highest weekly close was $1,788/oz set in November of 2011. The third highest weekly close was $1,780.8/oz in October 2012 which is jut .50c above where gold closed this week. If gold...
As the GDXJ/GDX ratio broke a major resistance, the probability for junior miners to outperform senior ones has strongly increased. Anyway, it is a strong bullish signal for precious metals and the precious metals industry. AMEX:GDX AMEX:GDXJ
Gold (USD) daily- $1,800 and $1,923 target levels.
What an IPO, what a run! The tight share structure of the company (25% of the company is owned by the Management and founders) sent the stock to $4.6 today. After the incredible Kirkland Lake story, the Fosterville region is more than ever keeping its reputation of creating lots of money. What about value? Is this stock interesting from a fundamental standpoint?...
Since last Friday, I expect a new leg up in the gold stocks. Minimum target the top channel. If new gold leg up is stronger gold stocks could go higher, surpass the channel and then correct. I expect this leg to last at least three days or so. Then..... Following previews patterns, consolation for a few more weeks, but unless there is very sharp upleg...I don''t...
I will share my thoughts. I´m fully invested in gold stocks. My chart indicators "tell" me. - Daily charts have corrected and also is expected a rising in stocks next weeks. I expect that we finally reach and surpass the 48-50 level. About a 10% rise from today levels. - A daily full stochastic is "telling me" that we are in course of a correction (that´s true,...
Have a great day
Providing update to my previous chart. Gold has now completed an inverse head and shoulders pattern and we're expecting the bullish momentum to continue.