GDX - gold minersThe good news is that we are approaching some serious levels
The bad news is the way we crushed the 200MA
Miners
$STA breaking out of bull flagStrandline Resources coming out of a nice consolidation period and breaking out of a textbook bull flag. FA all lines up with TA.
Finalising finance and in early development days with aim for first ore to processing plant in 18 months. Got some exciting projects happening in Tanzania on the go too.
litcoin with strategey minerAccording to the 5 waves that are seen daily and the end of wave 5 in the support range of the minor strategy, two scenarios are foreseen for continuing to work, to have a corrective move in the form of an abc or to start a new 5-wave trend.
$NES shaping up nicely for a move in the next couple of weeksKeeping a close eye on $NES. A break above 8.4c should mean a fairly smooth run up to the first target @ 12c
Entry above 8.5 or slightly higher after breakout confirmation
Solid support @ 6.7c
Gold Junior Minors, when to get on the trainLooking for GDXJ to break above 60 for a potential bull breakout with a target around 90
Or, a breakdown to the 200 day moving average to 42 to 48. It's harder to predict this bottom because of the expected upcoming volatility, so buy orders spread throughout this lower range is a good strategy to catch some (if not all) of that bottoming activity before the great bounce.
Of course there is always the chance it would break down even lower, but as always this is not financial advice, don't risk more than you can loose, etc.
SIL points of interestIf SIL can hold above 44.5 the next few days, we could see a breakout to 66, 67 over the next few weeks. If not, it could drop as low as 40 before a bounce. That would not be surprising either as we're in a time of extra volatility likely for the next month. If it drops much below 40 I would get the hell out of all stocks.
Will the miners offer one more dip?I am wildly bullish on the miners and precious metals over the longer term but I suspect another corrective leg down. GDX has been forming a giant ascending wedge from 2013-2020 and just broke out of that pattern this year. The drop in March was just a small piece of that puzzle that flushed a lot of new & experienced traders out of the trade. I pointed out several times that it was potentially an extremely good buying opportunity. That turned out to be true and the miners have been one of my best trades this year. I'm not an expert on Elliott Wave Theory but I'm seeing what looks like 5 waves up that completed in August. Perhaps now price is still stuck in some type of correction before a much larger move takes place. Take note of the red flag on my lower indicator. There's clearly a trend there and price has not dropped enough to complete another touch. There's no rule that says it must but it's just something to watch. Be patient. Be smart. Do YOUR OWN homework. Follow price. Ignore emotion... and get ready!
Long FCX ( $GLD $FCX #GOLD $GC1! $GC_F $Spy $GOLD $XME)see full chart at www.tradingview.com
FCX
Entry $15
Target 1 $17
Target 2 $20
stoploss $13
Why?
Why it is a buy?
Stimulus bill #2 will eventually come out by 2021, Along with FOMC mentioning that they will allow inflation to run wild. what that means is that, the fundamental value of GOLD and other minerals will increase in price. While everyone is focus on gold, and silver, they are missing out on Copper. so I think it is defiantly an laggard and we could catch a nice buying opportunity still.
Who are they?
Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.
SBSW showing divergence
Let's see if this is a valid buy signal here
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Scorpio Gold Corp (SGN.V) - An update to my one year chartHere's an update to my original one year chart, as with SGN.V, there's a lot of tension brewing in junior miners and explorers. We should make a decisive move in the coming days. Today, Gold had a false breakout but is holding $1,950. Let's see what happens (with bated breath, of course!).
2-3x gains possibleSupport rising at each dump, res holding reliably. It's chilling rn at historical res possibly making a handle on a c&h. Also, volume much higher than previous cycles.
DXY GOLD Mining stocks. Gartley pattern.9.15.20 The DXY looks like a failed Bear Trap and is probably going lower...possibly into a bullish Gartley pattern. Whatever happens to the DXY, expect a reciprocal move in gold and silver. This is a difficult market because the dollar is in a fairly narrow range and narrow ranges create more difficulty with less opportunity and higher risk in relation to a realistic reward. it is essentially a non-directional market which is difficult for both buyers and sellers. Normally for me, if I see a market like that I figure they are too smart for me and I don't bother with the market which can go on for days, weeks, and even months. I talk about a potential second chance at the gold and silver miners.
EBON - Ebang is a ASIC mining and soon to be exchangeIf this company keeps making ASIC Miners
and
If this company gets its license for an exchange
then
They will send this to $50 by next year.
Mind the gap at 4-5$
it could break down back there if one of their deals falls through
GDX correct from here?surprised to see GDX has such a huge divergence on the weekly chart dated back so long.
if you see value in this analysis please give a like. thanks.
A micro cap gold explorer/miner with decent LT technicals.My kid's soccer practice got canceled this morning, so I thought I'd take another look at Scorpio Gold Corporation (my current favorite). The chart is showing some strong signals that are what I believe, signaling a meaningful move to the upside. My overarching thesis is Gold will hit $2400 by EOY. For extra torque, juniors will vastly outperform in a $2400 gold environment.
PeaksLooks like a triple top / head & shoulders, archipelago, temporary top.
A break of the trendline which I think has just happend, opens up some lower levels before going up.
Not a trading recommendation, just my personal analysis.
PANacea below Triple top / head & shoulders, break of the trendline should send it to the PANacea green zone which is reputed to be an excellent elixir.
Not a trade recommendation, but my personal observation
IVR Looking healthyLong here with a few targets, Silver market extremely bullish which is pushing price higher here. Solid fundamentals DYOR
Double Top?Just an observation, looks like a double top, could also be a continuation within the channel, seems over extended for now.
Mining Metals ETF on new supportPrevious resistance on June 8th, now became new support.
A close below $23 is a sign of a fail of the short-term bull trend.
Next support level is $20.
𝗖𝗵𝗮𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗼𝗻𝘁𝗵: $GDX Monthly. What a Move! Major breakout! Look to buy dip as sentiment too high 📈
$GLD $GC_F $GDXJ $SI_F $SLV $ES_F $SPX $VIX $NQ_F $QQQ $NDX $SOX $IWM $TLT $TNX $DXY #Gold
