Saw a different possibility of bottom in C ~174 that I wanted to mention. Still could see lower ~160 to 169.
Still expecting another low in ~160 range. Watching for possibility that it has turned bullish. It looks better than SLV does off recent bottom.
Bullish scenario hasn't been invalidated yet, but higher chance in my opinion of the ~167 to 160 move down . Expecting some more follow through to ~179.5 based on micro structure and corrective move up.
Show my bullish/bearish scenarios. Leaning towards more correction to around ~165
Leaning towards original count and target ~170 to 175. Also watching for possibility of a corrective wave at this low. SLV could see same scenario
Count is good so far. Watching out for the possibility of larger correction. Started last wave in this move
Target hasn't changed yet. Still expecting another low around ~170 to 180
Looking for another low in this move for a wave 4 ~175 then onto a wave 5 finish ~220
hope you enjoyed ~Bo
NEM Rising channel, heading to 2 week high of $68.88. Newmont is the world largest gold producer and ready to hit 52 week highs. The gold miners have lagged GC futures and GLD etf. Barrick gold is the 2nd largest producer and has a perfect ascending triangle. With FOMC july 30th, I expect these to breakout before and I would take some profits before known event....
On July 24th, SLV closing over the 2016 August high of $19.71. The next Fibonacci level (.786) is $23.48, then $26.93. On the options market, August calls for $22 was over 7000. Sept $22 calls over 12000. July 23rd, a $24/29 October call spread bought 20k in volume. FOMC meeting is July 30th and expecting jpow to say they are printing more money. Hope you all are...
This idea will probably make 2X. The question is are you ready for it? Enjoy. ~Bugra Sukas aka Bo
Have a great day
🔥 DELTA7 Trend Score: ▲▲▲ 💡 Quick Analysis: M onthly ▲ - Monthly still showing on-going momentum. Pullback likely to be a reaccumulation 3 M onthly: ▲ - Solid widespread trending candle. Next 6months there a good chance retrace for stop hunt on the open of that level. 6 M onthly: ▲ - Price currently above yearly/semeter open which is a resistance range....
For members of Zencapita - I had mentioned the possibility of $GOLD going up, and the formation has been nice so far. If you're interested to learn more about how I see this forming up, join me today. Remember to check out the chart on TVC:GOLD before trading/investing!
Here's a look at gold as a short term play, and as a long term investment. Looking at the ETFs and trusts. And a little chat about physical.