Junior gold miners have been beaten down. Weather it's enough or a complete washout is still looming... time will tell.
Mux has though made the 127.2 extension of the recently high and low, so a snapback rally could be eminent.
It's not a low for going long and stay... but a 1 og 2 day stay. A bottom here is not confirmed. A lower target for a washout bottom...
A quick chart for a junior gold miner.
Underneath the chart I will zoom in on smaller time frames.
Making a 5th wave on positive divergens.
Very short/ term: I'm neutral
Short: I see a possible bottom
Intermediate term: Starting to get bullish
Safe trading ladies and gents!
@BLawrenceM
Rob Mcewen started Goldcorp (GG). He took the mkt cap from 50M to 30B. This is his new company. He owns 110M in stock. He has ZERO salary. He is the most on CEO out there. ZERO DEBT. They own one of the largest copper deposits in the world, with 20B pounds. Monetized, this will bring 400M. The mkt cap will triple.... and thus will the stock price
Here is a look at a recent reversal in this miner and the price action happening now. As you can see, many similarities. I really like the volume and angle here.
