This one is on the weekly. It may take a few months to play out. It could also break to the downside, what will determine which way the pattern breaks is if NASDAQ:SSNT closes the merger with Bitcoin miner, Rhodium.
Rio Tinto – Mining
Market Cap: €1.35 bln
Price: $61.74
6 Month Dividend: $2.24 (c.3.2%) – March 2023 Quote
Dividends recently cut significantly from $4.79 in March 22 (c.5.7%) to $2.24 April 2023 (c.3.2%).
Chart
- Whilst the long term trend is up with higher lows on the large pennant since 1990, we have not made a higher high since May 2008 and this is a...
Is the increase in hash rate increasing share price for mining companies i would like to know if this is indeed a catalyst any input on the subject is appreciated
GDC has ran up over 400% after coming out of nowhere to ascend parabolically over
the past several trading days. Relative volume is about 5-10X the normal average volume
in the past months. Price action consolidated as the early buyers took their profits.
Consolidation is shown on the chart as a regression channel bounding the fade.
This pattern is...
Barrick still has got heaps of digging operations to do. The share should continue the downwards movement it has started from the last high of wave (iv) in blue and drop below the support line at $12.65. Thereupon, Barrick should enter the yellow zone between $11.97 and $6.32 to develop wave (2) in yellow, whose low should then complete the overarching downwards...
After it had initially been dragged back to the bottom of the blue zone between $13.94 and $21.88, Pan American Silver is currently taking another whack at resurfacing from its depths. By now, the course has managed to establish a new high since the end of wave (ii) in blue and should continue the ascent. We expect the share to leave the blue zone on the northern...
Has Fresnillo gotten lost, hunting for Easter eggs? We don’t think so! We rather understand the share to be swerving, interspersing its way with a little counter movement. Soon, the course should return to the main path and fall below both the supports at GBP 610 and GBP 456.60 to continue the descent. However, a 30% chance remains for Fresnillo to make a more...
Gold and GDXJ on 9hr chart
Gold rising here again
-Miners lagging
-Miners may be doubting this move
-Buying back my miners, I still think theres banking risk in the system
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
First Majestic is still wading through the turquoise zone between $12.36 and $6.89 to finish wave 2 in turquoise. To achieve this, the course still has got some room for maneuver – at least until the bottom of the turquoise zone. However, it also might have already completed the current movement, thus continuing the ascent. As soon as that is the case, we expect...
Newmont is flirting quite heavily with our alternative scenario, moving closer and closer to the support at $37.45. By now, it is touching the upper edge of the yellow zone between $42.50 and $23.41, on the verge of slumping deeper. There is a 40% chance that the course might do so, dropping below the support at $37.45 to develop wave alt.(2) in yellow earlier...
I have had a pretty large position in RIO and BHP since end of July 2022, I bought expecting the market to recover and for copper/iron demand to jump from the re-opening of China and the rest of the world. These positions have given me quite the return with their pretty high yields.
Having said this, we can see that the steam from the market's comeback has...
Since the end of wave B in turquoise, Fresnillo has been continually getting down for business. And the share should keep going as we expect it to march below both the supports at GBP 610 and at GBP 456.60. There is a 35% chance, though, that the course could turn upwards and climb above the resistance at GBP 997 instead. In that case, Fresnillo should enter the...
People are up in arms after photos broke yesterday, showing the terrible conditions of a cobalt mine in the Congo. Of course, the irony here is that a lot of cobalt, along with many other materials powering the green revolution, are often sourced from places like the Congo with little regard for environmental or labor law.
The reason I'm telling you this is that...
NACL ( NATIONAL ALUMINIUM ) is in uptrend so you can go for long and the expected target price will be 90.
Note : This is just for Backtesting and Educational Purpose Only.
Fibonacci on stock and MACD fit here and wondering if anyone uses fib retracement. Looking to see metal stocks repeating themselves with Gold, Silver, Palladium, Rhodium hitting new highs while Nickel and Platinum getting ready for own run. Uranium repeat of 07-08 and 11-12...too?
Technical Analysis
After moving in the sideways trend for a while, ADMR made a descending broadening wedge pattern. Furthermore, ADMR has broken out of the Falling Wedge Pattern. The Breakout could indicate a possible starting point for the Markup Phase. The Markup Phase is the stage of price breakout of the trading range and starts to rise steadily. Therefore,...
While First Majestic had actually already made it to the upper edge of the turquoise zone between $6.89 and $12.36, it has shied away and drawn back again until the retracement at 61.80%. Thus, we still give it some time to finish wave 2 in turquoise – although it could also continue the ascent from here. As soon as wave 2 in turquoise is completed, First Majestic...
