As noted in my previous post about McEwen Mining, the monthly resistance lines are offering us a current consolidation zone after a nice 200% bounce off of the march lows, However following recent price action as well as seeing gold pull back, reloading for a healthier move higher, has made me considerably more bullish on this name.
We now have 2 major confluences of bullish patterns on the daily time frame:
We have a beautiful cup and handle, with the handle being formed currently, trading around and between those monthly resistances
An even more evident inverse head and shoulders than noted in my previous post
Would love to see gold pullback a bit more or hold here, and see this name holding 1$ support as I would consider this a massive buy zone.
Extremely confident that this name is a potential multi-bagger should the precious metal bull run continue.
We now have 2 major confluences of bullish patterns on the daily time frame:
We have a beautiful cup and handle, with the handle being formed currently, trading around and between those monthly resistances
An even more evident inverse head and shoulders than noted in my previous post
Would love to see gold pullback a bit more or hold here, and see this name holding 1$ support as I would consider this a massive buy zone.
Extremely confident that this name is a potential multi-bagger should the precious metal bull run continue.
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Related publications
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.