In the weeks to come, it looks like FCX is setting up for a major bottom akin to the preciohs metals miners imo.
The monthly stochastics is still down, so one for the watchlist. Price action looking good so far…
Positive divergence on RSI.
Oversold on Stochastics.
Capitulation and strong reversal.
Could still be in a longer term bear, don't know.
However, long for time being… could be a relatively big long too!
Attempting to put more pieces of the puzzle together, considering my ideas on the miners recently published, from what I have seen over the years, B / X waves or alike (as potentially marked on the chart with a black line) usually have a subsequent opposite move in price at the end of such a wave. Therefore, the move in gold from 2016 low would have ended with a...
Same as my recent ABX, GDX chart.
PAAS appears to be playing along nicely with a sideways consolidation with classic text book decreasing volume, as well as other indicators looking encouraging, so would expect another pump higher regardless of wave count (either impulsive or corrective). HOWEVER, I have also seen breakdowns from these forming triangles, which I...
Appears to me that for years there was a sideways consolidation, which bottomed in 2016. Then a strong move up, therefor the following questions:
1. Is this a new bull market and we have had W1 and are now (ending?) W2 at the 76 fib retrace level?
2. If not, have we had a strong upward A, now in B, yet to come strong upward C to break A highs?
3. An X wave of some...