A pullback in yellow wave (2) almost hit 61.8% of yellow wave (1). Now we see the strong minor impulse to the upside. It can be a part of large yellow wave (3). The target is projected at the distance of 1.618x of wave (1) with aim at $2,577. Watch how price breaks above the top of wave (1) beyond $2,086 Risk/reward is 1:2.5, one could get it better if goes on a...
Miners are a short-term buy with a longer-term sell signal on harmonics. SSTIS is a confirmed buy with a fake bear setup. 2D MV chart signals a short-term buy with a longer-term sell signal with an elevated buy signal on SBV but below of SBV sell signal and an MVO bear/bull swtich. 2D MV fakeout chart signals a fake bull setup. SVT is cautious with this setup and...
Miners are a short-term buy with no longer-term confirmation on harmonics. SSTIS is a confirmed buy with a fake bull, 2D MV chart is a confirmed buy with weak bullish internals. 2D MV fakeout chart is a clear fake bull.
Miners are a confirmed sell on harmonics and a confirmed sell on SSTIS with a fake bear. 2D MV chart is a confirmed sell. The expected further drop is in progress. Once dollar will turn downwards, andequities will start their recovery till this October (mid-september), I count with a large bullish rally.
Miners are still a confirmed sell on SSTIS and a fake bull. The bear surge is over on 1D timeframe. Harmonics is a short-term buy with a long-term sell signal. 2D MV chart is a confirmed sell. PM complex will go up as long as dollar will go down but then, when the bull resumes on dollar, PMs will drop again.
SSTIS is a confirmed sell with a bear surge signal. 2D MV chart is a confirmed sell. Our forecast works well, next target is 27.9. If that level fails, then 26.8. Gold and silver will follow the same dynamics.
Miners may finally be at or near a medium term bottom. They were up nicely today while gold was down. Also the technical are good. They are at the primary trendline, and there is a bullish RSI divergence. There is major support around 31, but not sure it will get down there.
THE BOTTOM SHOULD BE WEEK OF 7/18-7/23. Notes: 1. vertical line is FOMC 7/27-28 2. we should get 1, maybe 2 more lows with the floor around 1720 3. the bounce coming late June should be sold.
Miners are just to start a bearish volume cycle on 2D timeframe. Current 2D fakeout setup suggests a non-fake bear. I'm not changing the forecast as it seems to be proper.
Miners are a short-term sell with no long-term confirmation on harmonics. SSTIS is a fake bear with a bear surge signal, 2D MV chart is a short-term sell with no long-term confirmation. SVT will take profit on its long miners position and will go to full cash. McClellan for HUI gave a bearish signal on 24-MAY.
WATCHOUT FOR FOMC RUGPULL Don't have a bunch of time so: 1. This is generically what it shows right now (regressions combined with Elliot Waves) 2. Needs wave 5 to complete 1-2, 1- 3. And then goes into pullback to 4/27 to complete 1-2, 1-2.
My favorite ratio for cutting through the noise is an LT view of Gold/Oz($) : HUI (the Gold Bugs Index). Generally when it rises we gold bugs suffer because the price isn't reflecting our buying habits. That's why I'm looking for the next bottom on this chart sometime in July that might coincide with this broadening wedge... A date that keeps recurring for me is...
Busy af right now, so just getting this up. Will write more if I have time. But basically, various measurements say that bottom is in and if it isn't, it's REALLY CLOSE. That said, nothing exciting until 2nd week of April.
Entering supply zone while gold approaching possible demand $GLD, $XAUUSD
We have also retraced 50% from the march lows to the top
In the next next 2 years gold and HUI will rise significantly while DJI will fall by further 50%. HUI:Gold ratio which is still quite low (0,16) will rise to about 0,45. Enter mines now and exit after HUI:Gold exceeds 0,4.
The earlier idea could be completed as structure gets more complex with possible double three WXY to emerge. The drop into blue box should occur then to make a wave X retracement. Then the metal could hit 22.50 when another zigzag up in wave Y unfolds.
The wave (4) has been completed as per the plan (see related). The wave (5) could be extended and of the same size as wave (3) and it can hit the all-time high and even higher level of 1965.