AUY Rising Wedge (Bearish) with Neg div in PPO and VolumeAUY Rising Wedge (Bearish) with Negative divergence in Momentum (PPO) and Volume.
Metals are on fire now with gold breaking inching towards all time highs.
I have no long or short position at the time of posing this but watching it.
Miners
Pattern breakout on MUX Simple.
Falling wedge breakout and break up of 12 year old S/R line.
Chart tends to move impulsively to the upside upon breaking up the 1.04 horizontal level as done in 2008 and late 2015.
Target of 1.85 derived from falling wedge pattern
SIL looks to hit around 43.4 from hereADX over 25, and the price seems to be breaking out of trendline on the weekly chart. (Note that I am displaying the daily chart)
Small trade on RVN, good supportRVN is one of the best criptos for small miners at the moment, paying them (me as well) better hashrates then ever.
Now it´s a good opportunity to buy and hold the coin, buy on the Orange and Red support lines for a possible short term 24% profit or hold it for the future and who knows where can it go.
RocketshipThis microcap mining ETF is clearly on fire. I'm late to the party but I think I'm getting in. Most of its big holdings are small miners that are on foreign exchanges. It's a good time to be in gold anyhow.
WPM Wheaton Precious Metals - Long Set-upWPM Wheaton Precious Metals
ENTRY = 618 Support/36-40
HODL Target = 47+
Daily Engulfing Candle, Stoch, Macd, ttmsqueeze & momo set-up
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Harfang Exploration - nice chart -- what you think? -- -- (:-))It is about precious metals
it is about exploration
it is about scientific method and leadership in Quebec mining industry, with geologues they have a good idea exactly where to find the "stuff".
But technically I feel the chart is very good, looks strong eventually with upsing in the sector
near term target: ---------->>>>>> 0.425 $
longer term target: Who knows ?
Brothers in soul, I would be delighted to read your thoughtful comments. What do you think about this one ?
I keep some share.
SILVER XAGUSD Long ideaSilver XAGUSD is at the upper area of the consolidation box. A move higher would be awesome for us.
LONG Eastmain ResourcesResumes Exploration on High-Priority Targets after COVID-19
Possible 50 bagger
looks like it bottomed
LONG Aurion ResourcesLooks like it soon wants to break out if gold permits
Explorer holding largest land package in Finland (low geopolitical risk)
GDX Clearly broken out - Targeting 46As shown in the daily GDX chart, the turquoise trend lines mark the support resistance trend lines, as well as show a standard flag pattern. Previous upside target in 2019 was 36, it now is upgraded to 46, based on chart pattern and Fibonacci projections.
Recent price action saw a gap above the trend line resistance, and consolidation before yet another gap up (over a minor parallel trend line resistance).
Also observed that MACD is supportive with a break up cross into the bullish territory, and a break above the MACD trend line at about the same time.
Bullish, target 46, around mid-August 2020.
Gold Sets Fourth Highest Weekly CloseGold closed at $1,780.3/oz this week which is the fourth highest weekly closing price in history. The highest weekly closing price was $1,876/oz set in August 2011 and the second highest weekly close was $1,788/oz set in November of 2011. The third highest weekly close was $1,780.8/oz in October 2012 which is jut .50c above where gold closed this week.
If gold holds above $1,773/oz through the end of this month then June 2020 will mark the second highest monthly closing price in history, with the all-time monthly high being set back in August 2011 at $1,831/oz.
Outlook on gold remains bullish with the expectation that price makes a new all-time high this year above $1,923/oz which was set in September 2011.
Gold Miners Looking to Confirm the Bullish BreakoutGDX has broken out of multi-year triangle that formed a solid base since 2015. If gold continues marching towards all time highs, I think GDX can hold the breakout here. Perhaps it will cool off for a couple weeks after the rapid rise, but then I'm looking for the move to low $40's on the way to $60+
Positions:
GDX 1/15/21 40c
GDX shares
Reassess if falls back into the triangle (convincingly <$30)
BTC BULLISH OR BEARISHWill the same happen on 'Black Thursday' with the #BTC price drop when the big pools withdrew + 6k BTC and pushed the price down to -50% ?. .
March 12 ---- »- 50%
May 25 ------ »- 10%
Jun 23 -------- »- 4.75% 'for now'
Source: @CryptoQuant
GDX : HEDGE FOR MARKET UNCERTAINTIESGDX is a fund that invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. Miners have lagged actual Gold prices (XAUUSD) potentially due to operational risks affected by COVID19. The chart now looks set-up for a move higher to catch up with gold spot price as it breaks out from consolidation.
In times of an extended market and uncertainties, it's never a bad idea to hedge positions with exposure in gold to be well-prepared when the market turns.
Bearish on Africa Gold minerWhy the Bearish on Gold miner?
Africa is shut Down for 14 days!, all mining activity shutdown!
Most Africa based miners are DOWN!!
Pending follow up with more EURO shutdowns.
sooo?
SOOOOO, This company is up because Gold is UP, Please buy it because they think it's GOLD!
EVEN So, people only buy gold due to fear of recession bets and fear of the weak dollar.
But guess what? GOld will crash if we have a flash crash anyways!!!
that means, we will win, if market crashes hardcore, and we would win if market continues to rally up and cancels recession fear.
Win WIN
AU- Short Shares
IDEAL on Short entry - $24.50
Buy to cover $16.23
buy to cover Trailing stop $4
Bitcoin: Bullish but No Rush Hi, everyone. We are back! Sorry for the long absence. We’ve spent the past few months developing some awesome on-chain indicators, which will be released soon. :)
For BTC, we are currently at a crucial state, with many attempts at the 10k mark. All fundamentals considered, we do believe it is only a matter of time for the break to the upside. However, looking at miner behavior, we do think the consolidation would still need some time to play out. Historically, it has always been good accumulation opportunities after the weak miners’ sell off and capitulation. With only strong miners left, the miner selling pressure decreases. Recent data also shows a significant decrease in miners transferring BTC to exchange wallets after the halving, confirming the increasing miners’ short-term holding behavior.
How do miners react in large price drops / halving events?
--> Price drop / halving
--> Miner revenue decrease
--> Weak miners: sell more to maintain operational
--> Strong miners: holding and use existing cash for operational cost
--> Weak miners: not sustainable & capitulate
--> Only strong miners left (holding, not selling) --> mkt supply decrease
--> Price stabilize --> then rise
*credit to capriole_charles for the hash ribbon indicator.
