Using our New Elliott Wave Indicator Suite , we are looking at a potential Long 5th Wave move on AEM. Entry will be through $60 and our Automated Target Zone is showing a Target price around $67.50. Risk to Reward is good and so looking to rejoin the overall and strong main Bullish trend
We are clearly in an up trend.
''in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks''
The volume is declining; "The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase...
We closed the day above upper channel line resistance for the first time since 2 months ago. May be a good time to go long. Could possibly retest support of ascending trend line at around 10400$ before going higher. I would still be careful as we just broke out. Be careful and use a stop loss