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.
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 Breakout is confirming as a Trading Range formed with low volumes during the past few weeks.
Following a few weeks of low activity, very-large volumes were registered today.
Price is heading toward the next Resistance of the upper Ranging Channel at $7.8.
This movement could very easily push the price all the way to the next Resistance at $8.0 to a new...
Gold got stuck in an extended consolidation of wave 4, which shapes double three WXY.
The completion of the last wave Y down is expected at the low of wave W around $1658.
Then the last wave 5 , that was widely expected long ago could kick off finally.
The target area is highlighted with a blue box between 1805 and 1921.
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.
NYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards.
Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot.
I am entering with idea to hold it...