GDX could be at the bottom. The completion of the AB=CD pattern is in. We also are at the trend line. XAU is bouncing. Its getting very close. Getting ready to go long, but not ready to catch the knife. Need to see some conviction with XAU. Check my chart from a week ago when I went short with DUST
The NVO breakout continues. The break above the bull flag consolidation (thin red lines) signaled a AB=CD pattern. The CD is almost complete note the Blue line. The breakout above the previous high (red line) might be a significant trend.
XAGUSD (Silver) in a continued downtrend lower his and lows. Looks to me like an AB=CD pattern continuing with Silver finally bottoming around $18. There is horizontal support at $18.53 could bounce there but I doubt it. This pattern looks similar to XAUUSD.
XAUUSD (GOLD) looks to be headed lower. I see nothing to change my opinion to $1200 gold. I agree there is a possible support point at $1240. We are very close now and gold could bounce. We are still in a downtrend lower highs and lows. You can see the AB=CD pattern (red) from March. Confimring a triple bottom to come at $1200. The $1200 target will also be the...
VIX (VXX above) has been bottoming forming a slight (very slight) up trend. Chance to make 12% gain on a 50% retrace of the previous high.. Downside risk 2% get out if the dark blue trend line breaks. MACD crossing
FCX is currently in a downtrend. Expecting prices to correct to $34 (completion of AB=CD pattern) minimum or further down to $33 which is the longer term bottom trend support and completion of the harmonic pattern. Fundamentally undervalued compared to rivals. Get ready to switch over to a long position.
XAUUSD (Gold) may be setting into a 3 drive pattern. Also a triple bottom. All at the 61.8% retracement from the runup from 2008 to the high. Buy in at $1200, set your stop below 1163. If it goes below 1163 get out. Fingers crossed for GOLD here.
Every stock takes a break and reverses, but X is showing some real legs. The government regulations are helping propel the stock. Analysts are upgrading. All in favor. But looming in the back ground is that huge gap. I might try going long here with a short leash!
NVO, a very good company, looks to be in a down trend with expected end point around point "D". AB=CD pattern forming. Look to go long around $40. Careful could go lower to complete harmonic pattern at $37.