The miner head and shoulders will dump price to below the major head and shoulders. There is no escape now. Rotate to gold IMO.
Zoom-in on the right shoulder action, which is getting pressed by the 10 dma. Next leg down look set to clip right through the head an shoulders neck line.
as said, about to dump out of the bear flag as said, about to dump out of the bear flag
rejected at the Dec 7 dead cat bounce, and vicinity of 38.2% retrace from the all-time high peak in November. That is not a good look. Now in free-fall.
bulls are going to need a tweet from Elvis Presley himself to push past the red box. As Peter Schiff just mentioned, pumping price up to give folks good talking points while they gather with family is happening now.
Not sure if you could research "bullish falling wedge" and find a better example on the internet.
Zoom in on the weekly palladium/platinum ratio. When this drops, it means platinum is outperforming palladium. In July 2001, that top on the ratio broke down, and gold and platinum both did 400% (4x) in 6 years. This is a very important chart that many are missing.
dollar bulls and gold bears are praying for a bounce here on the daily. If not, it could get ugly
Weekly momentum has hit it's 5 year old cap, shown as a red line and highlighted by the green dots. They also align with Bollinger over-extensions, and repeating peaks in RSI. The time between reversal is almost identical. I've been pointing this out for 2 weeks now on twitter, and have been loading up on tax loss selling junior mining stocks in preparation of...
copper weekly looks like a Stage {2} breakout continuation in it's infancy. This weeks cross past the 30 week EMA is the first clue. Hey, is there anything goin on in the world that would cause this?
Here is a 6 million silver ounce producer with tin on the side that is valued as 250 million market cap. Peers with similar production are valued over a billion. This is an easy 4x stock from here to match peers, then add the appreciation with all boats rising with the tide. My biggest position, and I've been pounding the table on it since IPO. Average cost $1.30.
Which way will price go? Chart is the bearish and bullish view. I choose bearish path.
Good luck out there. This is the next leg down. don't you want to take some profit and rotate to precious metals while they are bottomed?
For once in my life, I would like to see this play out after I drew it.
Don't be a hodler. this is not going to 100,000 in december.
New idea. Could end up being bitcoin troll food later. I dunno. The important thing for me is to save as many as possible before the whales cash out on-masse.
golds weekly momentum breakout price, or maybe better said, resistance, is around 1899.
Weekly momentum structures is showing strong evidence that the top is in, as the red line, for the 5th week in a row, has rejected the move up. This is supported by the trend line I have drawn (black) on the price chart.