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Miners

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!
AMEX:GDX
by gghsusa
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.
NYSE:FCXLong
by WallSt007
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.
NYSE:SAND
by ScottBogatin
5
Silver Makes 7-Year High, Gains +38% in July Silver has broken well above the long-term $20/oz resistance level that has capped price since 2013 and is now testing $25/oz which is a level not seen since 2013. Silver opened July at $18.20/oz and is currently at $25.15/oz for a +38% monthly gain going into August. While gold is making new all-time highs per-ounce above previous highs set back in 2011, silver is still well below its 2011 average of $35/oz and the 2011 all-time high of $49.83/oz, which is the level silver should be close to testing now if it had been keepig up with gold price this year. The current monthly price candle for silver is yellow which indicates that silver is experiencing bullish momentum volatility, or extreme trader optimism behind price. The Relative Strength Index(RSI) shows the green RSI line rising above the purple signal line which indicates short-term bullish momentum on a monthly basis. The green RSI line is also above the 50 level which is the midpoint of the total RSI range(0-100). In general, price is considered to have bullish momentum when the RSI is above 50 and bearish momentum when below 50. In general during an uptrend, you want to see both the green RSI line and purple signal line both rising and trending above the 50 level. The purple signal line is just below 50, but it is slower to react to short-term price movement than the green RSI line but it should begin to drift up and above 50 after this months record month for silver price. The Price Percent Oscillator(PPO) shows the green PPO line rising above the purple signal line, and both lines are trending above the 0 level. When the green PPO line is rising above the purple signal line it indictes short-term bullish momentum behind price. When both lines are trending above the 0 level it indicates bullish momentum behind price in the intermediate-term. The Average Directional Index(ADX) shows the green directional movement line above the purple directional movement line which indicates a short-term postive trend hind price. When the green directional line is above the purple directional line it is considered bullish for price trend, while the purple directional line above the green directional line is considered bearish for price trend. The histogram behind the two directional lines represents trend strength. When the histogram is green and rising it indicates increasing strength in an uptrend. When the histogram is purple and rising it indicates increasing downtrend strength. For now the ADX reading is showing a shift to a bull trend in price with the green directional line above the purple, but due to the swiftness of the move in price it has yet to reflect in the histogram which should begin rising soon. Overall, the view on silver remains bullish with the opinion that silver will outperform gold during the current bull market that is taking form. Silver had severely lagged gold this year in price gains until this past week and is now rushing to make up for lost time. Current holdings remain to be: GPL, HL, EXK, AG, KGC, MUX, CDE, NGD, GDXJ, GDX and physical silver.
FX_IDC:XAGUSDLong
by PrepForProfit
11