after yesterday's buy back I suspect up is now the path of least resistance, I might consider adding more silver leverage once we get back in my range but already heavily invested in silver miners at this stage.
Ok so I pretty much nailed the bottom call of the November low but thought that was it. I was wrong, we broke the lows, but the move we have had below these lows in recent weeks has a lot of momentum to it, looks like a climax panic selling bottom to me.
I may end up being too early calling a bottom here but I don't think I will be wrong in that the eventual...
In the 1st pattern, from the low until the breakout candle is 114 days followed by $11.5 increase in price. From the next low we had 151 days of consolidation until today, which I am assuming is a BO. 151 days is 1.32x longer than 114. So as a crude way to estimate the target of this move: (11.5 x 1.32) + 27.8 = $42.98 target for silver? This is almost identical...
long initiated on hourly or perhaps 30 min candle close above previous candle.
stop below the low.
take 75% profit at red and then leave a runner incase this goes to new highs. - Set limit sells at $1000 LOL!
People are quite excited about uranium and hating on oil stocks.
I see Uranium futures losing support, Cameco directors dumping their shares, premiums on calls on Robin Hood..
Meanwhile, Oil prices are rallying, Texas oil offline, about 40% of US production and what sounds like serious supply chain issues. I am seeing experienced commodity traders hating on oil...
Commodity inflation is here, $USOIL is breaking out of the generational bearmarket and this is THE GENERATIONAL LONG.
$SU Suncor Energy has exposure to the oil sands which I think means the margins are possibly lower and they are more hated for environmental reasons? - This is what the chart suggests.
The slingshot higher should melt faces as all the flows pour...
NCM coming into major support. For an attempt at knife catching, I beleive this is a screaming buy. Will be accumulating leverage in the form of options, some ITM calls and then some Further out or higher strike prices so I can capitalize if this dreadnought really gets ripping. Targeting the ATH and beyond.
I have never owned NCM but I like their long life,...
Nice reaction of the higher low so far while everyone is terrified to buy.
Not often you get such a bullish daily candle during these waterfall sell offs.
At the very least I expect a strong deadcat bounce. If we take out the swing low we are headed straight to 1740, and then 1690 although I doubt we can get that low.
Bottoms in IMO. This is not the time to be bearish.
Regardless of the wall street bets antics, I have been watching this pattern, both the wedge and Adam and Eve bottoming pattern that both project to mid $30 - 40's area.
There is some resistance from the all time highs that may cause short term issues but I believe that the serious momentum and stupidly high short interest (23%!) will get this thing moving.