The major Elliot Wave pattern suggests price will reach all time highs in the next gold bull market / cycle. I believe it is due and Fresnillo has probably bottomed.
There is a chance we could continue to have a few more weeks of weakness in Gold and Silver prices which is likely to send Fresnillo a little lower first but I think we are close enough to a bottom now that it is not worth the risk of that not happening.
I think it is a good opportunity to sell some stocks and buy Gold and Silver mining companies, it offers a lot of portfolio protection when the stock market crashes which is a good possibility to happen with 24months.
There is a chance we could continue to have a few more weeks of weakness in Gold and Silver prices which is likely to send Fresnillo a little lower first but I think we are close enough to a bottom now that it is not worth the risk of that not happening.
I think it is a good opportunity to sell some stocks and buy Gold and Silver mining companies, it offers a lot of portfolio protection when the stock market crashes which is a good possibility to happen with 24months.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.