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Buy Buy! Ultra-bull Niocorp DevelopmentsI have been following this stock for some time, and it is getting better and better. their long standing goals, producing commercial, industrial-grade niobium, scandium products are coming to fruitition. This includes securing the finances to embark on the endeaver (unofficial). In the mining scene we have to be wary off the juristiction/country the mine is located in. it could get seized, laws could get passed that could dampen revenue or export be banned. But this is the opposite . It is located in Nebraska, U.S. and has tremendous political support . Niocorp Investor Presentation Target is AT LEAST 25. This stock is very resiliant against war, and will actually benefit from it. more supply chain issues abroad , inflation, demand to name a few. I like the price right now, but could surely fall further. We are near the support zone around 5.3, next is 4.7 zone then 3.9 zone. bargain zone: 2.6 - 2 Strategy: DCA GL
NLong
by leamese
LITM a lithium penny stock gets momentum LONGLITM is a lithium mining company with operations is Western USA and Canada now getting a lift as lithium prices are rising. It popped 16% today and hit a screener on volume yesterday. This is a junior miner compared with LAC and SGML. As such it is more reactive to price. All indicators confirm the move including the extent of the trend, relative volume spiking and the RS lines. This is a low float low volume stock. Accumulation of a low float could precipitate more price action upward quite easily. As a volatile penny stock LITM is risky. Right now, I see a long trade in a small position ( < 0.001 of account balance) for the potential gain despite the obvious risk SL at 10% Targets at 10% 20% (red line pivots to the left-1.2o December to Feb) then 70% ( pivot low March 23) and finally 250% for the runners ( January and July 23 high pivots). Time will tell. I expect great profit in this swing trade with stratified partial profits and less time effort in the trend using alerts and notifications. A trailing loss will be employed at 10% once the trade is over 20% profit.
NASDAQ:LITMLong
by AwesomeAvani
Fortuna Silver Mines (FSM): Mining new OpportunitiesFortuna Silver Mines (FSM): NYSE:FSM Since the entire silver sector and especially the precious metal sector interest us, we decided to take a closer look at Fortuna Silver Mines. We believe that in the daily chart since the COVID-19 low at $1.47, we have developed the overarching Wave I and Wave II and are now in the overarching Wave III. This should significantly exceed the level of Wave I, well above $9.85. Now, finding a good entry point at Fortuna is important to us. We assume that in the 4-hour chart since Wave II at $2.05, we have developed the subordinate Wave (1) and Wave (2) and are thus in a Wave (3). This should, of course, go significantly above the level of Wave (1) at $4.20. More precisely, we expect a rise to at least $6.06. This is our minimum target for the Wave 3 up to $10.35. However, that is the maximum for us. It could still go further, but realistically, we wouldn't expect that, except in exceptional cases. Currently, we should be in a Wave ((i)) right now, as we likely saw a gap close at the top of Wave ((i)) at just under $3.50. We should now find a retracement between 50% and 78.6%, that is, between $3.06 and $2.81. Afterwards, we should ascend to at least $6.06. However, considering we are in the overarching Wave (3), we should also surpass $10. But of course, that's in a very long-term scenario. In a shorter-term scenario, we expect to reach at least $6.06 relatively quick. We set our stop loss below the level of Wave 2, as a double bottom would still be allowed, i.e., a 100% retracement. However, we aim not to be stopped out. Therefore, we have set our stop loss for Wave ((ii)) below the level of the overarching Wave 2.
NYSE:FSMLong
by freeguy_by_wmc
Wheaton (WPM): Further Downward MovementWheaton (WPM) : NYSE:WPM Due to growing interest in the gold market, we've decided to include a mining stock in our analysis, specifically Wheaton Precious Metals Corporation, a Canadian company that focuses primarily on gold mines. We start with the weekly chart to examine this company. It's important to note we're dealing with Canadian dollars, not to be confused. We've completed the first 5-wave cycle, although not the most aesthetically pleasing, at 76 Canadian dollars. Since then, we believe there should be further downward movement to complete Wave C and simultaneously the overarching Wave II. We expect to enter the range of 50 to 61.8% retracement, approximately at the level of Wave (A) as we can see more clearly on the daily chart. The subordinate wave structure also clearly shows that we're in a Flat structure. Based on this, we expect to see a 5-wave downward structure. Should the rising gold prices cause an increase instead, we would invalidate the bearish scenario once we surpass the levels of 64.42 Canadian dollars and then 71.4 Canadian dollars. If this does not happen, we continue to expect to see Wave 3, 4 & 5. Incidentally, we've also precisely completed Wave 2 at the 78.6% level. Therefore, we are very confident there should be further decline before we consider long-term entries in the mining stock of Wheaton.
TSX:WPMShort
by freeguy_by_wmc
2
Hut 8 Shuts Down Alberta Bitcoin Mine Amid Energy CrisisHut 8 Mining Corp ( NASDAQ:HUT ), a prominent player in the cryptocurrency mining industry, faces the harsh reality of the energy crisis as it announces the immediate closure of its Bitcoin mining facility in Drumheller, Alberta, Canada. The decision, driven by escalating energy costs and power disruptions, underscores the challenges confronting miners in today's volatile market environment. The Drumheller site, once a cornerstone of Hut 8's ( NASDAQ:HUT ) operations, now symbolizes the struggle against the mounting pressures of the energy crisis. CEO Asher Genoot's acknowledgment of elevated energy costs and voltage issues reflects the harsh economic realities that have forced the company's hand in shutting down operations. In a strategic pivot, Hut 8 plans to relocate its Bitcoin miners to its Medicine Hat facility, seeking refuge in a more stable operating environment. The closure of the Drumheller site echoes broader trends in Alberta's energy landscape, characterized by soaring electricity prices and regulatory scrutiny over cryptocurrency mining projects. The province's 1,000% increase in electricity prices since 2017, coupled with government concerns over power usage, has cast a shadow over the viability of mining operations. The looming Bitcoin halving event adds another layer of complexity, further dampening profitability prospects for miners already grappling with market uncertainties. Hut 8's ( NASDAQ:HUT ) financial woes mirror the challenges confronting the cryptocurrency market at large. A 57% decline in revenue for the first nine months of 2023 reflects the downward pressure exerted by falling Bitcoin prices. Despite these setbacks, Hut 8 ( NASDAQ:HUT ) remains a formidable presence in the Bitcoin network, contributing significantly to its processing power. In addition to operational challenges, Hut 8 ( NASDAQ:HUT ) has weathered scrutiny in the financial markets. Allegations of legal issues involving its partner, USBTC, in a $725 million merger deal rattled investor confidence, leading to a sharp decline in the company's stock. Hut 8 ( NASDAQ:HUT ) has vehemently refuted these claims, emphasizing its commitment to transparency and integrity amidst turbulent times. As Hut 8 ( NASDAQ:HUT ) navigates the tumultuous waters of the energy crisis and regulatory challenges, resilience and adaptability emerge as crucial survival traits. The closure of the Drumheller site marks a strategic retreat in the face of adversity, but the company remains poised to overcome obstacles and seize opportunities in the evolving cryptocurrency landscape. With a steadfast commitment to innovation and sustainability, Hut 8 charts a course towards a brighter, more resilient future in the world of digital mining.
NASDAQ:HUTLong
by DEXWireNews
ALPH/USDT | GATE.IO | Micro/Macro Strategy | Daily TFi've loved alph very much since its inception. this chart has played out so well for me in these last 6 months. finally another competitor PoW coin for the people. i have been and will continue to stack this coin, if you haven't already. Do a little research on Alephium mining. it's easy AF and simple passive income, especially if your graphics cards are just idle, put them to work guys!. here is my micro/macro trade for ALPH/USDC on the Daily TF. I do expect plenty of volatility as we stress the top of our previous ATH. Also, as we do poke at this previous top a bit I will be watching on the 4hour for any re-entries and liquidity dips. for now, i'm holding, watching the 4HR, daily & weekly timeframes for quick wicks of liquidity grabs. in 2 weeks or less we will have our directional answer. no stops set here, only limit orders. my direction is heading North!
Long
by LeftyOnFire
First ATH BREAKOUT Before Halving ?? Bitcoin Halving: What It Is and Why It Matters Bitcoin halving is an event that occurs every 210,000 blocks (approximately every 4 years) where the block reward for mining Bitcoin is cut in half. This is programmed into the Bitcoin protocol and has a significant impact on the BTC price. Why Halving Leads to Growth Reduced Supply: Halving cuts the number of new Bitcoins created each day in half. This can lead to scarcity, as demand for BTC remains constant or increases. Increased Value: The decrease in supply can lead to an increase in the value of Bitcoin, as it becomes more difficult to mine. Psychological Factor: Halving is an anticipated event that can generate excitement about Bitcoin and lead to increased investment. History of Bitcoin Halvings: 2012: The first Bitcoin halving occurred on November 28, 2012. At that time, the block reward was 50 BTC, and after the halving, it decreased to 25 BTC. 2016: The second Bitcoin halving occurred on July 9, 2016. The block reward decreased from 25 BTC to 12.5 BTC. 2020: The third Bitcoin halving occurred on May 11, 2020. The block reward decreased from 12.5 BTC to 6.25 BTC. Impact of Halvings on Bitcoin Price: After each Bitcoin halving, the BTC price has experienced significant growth. 2012: After the 2012 halving, the BTC price grew from $12 to $1150 over 18 months. 2016: After the 2016 halving, the BTC price grew from $650 to $20,000 over 18 months. 2020: After the 2020 halving, the BTC price grew from $9,000 to $64,000 over 12 months. Expectations for the 2024 Halving: The next Bitcoin halving is expected to occur in April 2024. This time around, expectations are somewhat different, as: Bull Market: Unlike previous halvings, the BTC price is already in a bull market. Institutional Interest: There is significant institutional interest in Bitcoin now, which could lead to even greater growth after the halving. Will ATH Be Breached Before the Halving? While halving has historically always led to new ATHs, this time the probability is somewhat higher. Bullish Trend: The market is already in a bull trend, which is favorable for further growth. Institutional Interest: Growing institutional interest could stimulate demand for BTC. However, it is important to remember that the cryptocurrency market is volatile and unpredictable. It is impossible to predict with 100% certainty that the BTC price will break ATH before the halving. It is important to conduct your own research and only invest what you can afford to lose.
Long
by Yaroslav_Krasko
2
#RVN/USDT 1W (Binance Futures) Descending wedge on supportRavencoin just printed a morning star on weekly TF, looks promising for mid/long-term recovery towards 50MA resistance. ⚡️⚡️ #RVN/USDT ⚡️⚡️ Exchanges: Binance Futures Signal Type: Regular (Long) Leverage: Isolated (1x) Amount: 10.1% Current Price: 0.01924 Entry Targets: 1) 0.01703 Take-Profit Targets: 1) 0.02713 Stop Targets: 1) 0.01198 Published By: @Zblaba NGM:RVN #RVNUSDT #Ravencoin #PoW #P2P Risk/Reward= 1:2 Expected Profit= +59.3% Possible Loss= -29.7% ravencoin.org
Long
by TradingOn
1
What Is Bitcoin Halving? Here's All You Need to KnowWhat Is Bitcoin Halving? Here's All You Need to Know. Halving is the event of slashing Bitcoin's mining rewards every 210,000 blocks, or roughly every four years. Read all about it here. Table of Contents Overview What Is Bitcoin Halving? When Is the Next Bitcoin Halving? Deep Dive into Blockchain How Are Miners Rewarded? Why Halving Matters? The Big Picture What About Bitcoin’s Price? Halving and the Way Forward Overview Bitcoin’s halving is a milestone event for the crypto space. Essentially, halving pushes back the moment we see all 21 million BTC tokens pulled out of their cryptographic hash puzzles. Satoshi Nakamoto, the individual or group who created Bitcoin , programmed it to a fixed amount of 21 million coins. In other words, the total amount of Bitcoin can never exceed 21 million. Presently, miners have picked up just over 19 million through a process called Bitcoin mining. This amount is over 90% of the total supply with mining having started with the creation of Bitcoin 15 years ago. That leaves just about 2 million tokens to be unearthed before the final Bitcoin enters our dimension. How long should we wait until this mammoth of a milestone happens? More than a century, or around the year 2140 , according to forecasting wizards. The logic behind this peculiar mechanism lies in the so-called halving and this guide will help you understand all about it. What Is Bitcoin Halving? Halving, in its simplest form, is the process of gradually reducing the rewards of Bitcoin mining. As we mentioned, Satoshi Nakamoto originally hard-coded Bitcoin to a fixed supply of 21 million. All of them will come to life at an increasingly slower rate. More precisely, the pace at which Bitcoin is created is “halved” every 210,000 blocks. The current block reward is 6.25 Bitcoin as the last halving occurred on May 11th, 2020. When's the Next Bitcoin Halving? In April 2024, miners will add the next batch of 210,000 blocks. And that only means one thing - they will have their revenue immediately slashed in half to 3.125 Bitcoin. All halvings are evenly spread out approximately every four years, consistent with Bitcoin’s hard-coded design. This way, supply will keep increasing, just at a slower clip. The reason is simple - the Bitcoin halving rewards will continue to reduce. Deep Dive into Blockchain In order for new Bitcoin to come into circulation, miners need to create blocks in a chain, hence the term ‘blockchain’. Network operators—the hardworking miners—uncover blocks through computer-powered mining operations. These crypto diggers compute hashes as quickly as possible. What they do is search for the successful fixed-length output that they add to the block. The more hashes per second (hashrate), the more chances for hacking out new blocks and adding them to the blockchain. How Are Miners Rewarded? Generally, miners have two ways to reward themselves for the effort. The first one is to earn revenue from transaction fees of users who send and receive Bitcoin. That’s when they act as decentralized network operators and validate transactions without a central authority. At their height during the crypto boom in April 2021, the Bitcoin network fees reached as much as $60 per transaction and took hours to complete. After all, the network can only handle 4-7 transactions per second. To compare, payment giant Visa can validate 24,000 transactions per second. Average transaction fee of Bitcoin, USD Timeframe: April, 2021 Source: bitinfocharts.com The other way to reward Bitcoin miners is to let them pocket the newly-minted Bitcoin contained in the block. Halving is basically a reward system for miners. But more broadly, halving is part of the proof-of-work model associated with high levels of energy consumption. Millions of mining rigs soak up that energy and crank out new Bitcoin. Why Halving Matters? Halving the block reward for mining Bitcoin is a way to protect its integrity. This immutable feature of the OG crypto makes it stand out as a unique asset class. In this light, it is also an alternative to inflation-prone national currencies, also known as fiat money. With that in mind, in a world that craves disruptive innovation, a technology that’s rewiring the global financial system has progressively moved into the limelight. The growing role of Bitcoin as a new investment vehicle is apparent, factoring in the elevated investor appetite . Bitcoin transacts tens of billions of dollars of daily volumes, with a peak of more than $126 billion on May 19, 2021. The figure is sufficient to prove it has piqued the interest of enough crowds to form a market around it. Before we revisit Bitcoin as an investable asset, let’s take a breather and trace the original crypto back to its origins where halving was introduced. The Big Picture Just over 15 years ago, the mysterious Satoshi Nakamoto mined the initial “genesis” block . For the effort, the clandestine developer(s) earned a hefty reward of 50 Bitcoin. And also bothered to leave a message hooked to the chunk of transactions. The message read: " The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. " Since then, the Bitcoin network has witnessed three halving events: On November 28, 2012, Bitcoin’s block reward was cut from 50 BTC to 25 BTC. On July 9, 2016, Bitcoin’s block reward was slashed from 25 per block to 12.5 BTC. The last one occurred on May 11, 2020, when the reward was axed to 6.25 BTC. The next Bitcoin halving event is on deck for April 19, 2024. Rewards will fall to 3.125 BTC. The Bitcoin halving dates may vary and we're yet to get a confirmation over the next one. Estimations indicate that every 10 minutes or so all network operators add a new block to the Bitcoin blockchain. With the current reward of 6.25 Bitcoin per block, miners dig out around 900 new Bitcoin a day. At today’s prices , this is equal to around $50 million worth of Bitcoin extracted daily. This is where the halving becomes interesting not just to the geeks among us. Halving events play a key part in shaping up supply and demand and weigh on the price of Bitcoin. Speaking of price movement, how does the rate at which new Bitcoin is churned out affect valuations? What About Bitcoin's Price? Bitcoin, as the world’s first cryptocurrency in a sea of many, is the quintessence of scarcity premium. Investment professionals are quick to say that Bitcoin carries a unique glamor as the only large tradeable asset with a predictable emission leading to a hard cap. In that light, analysts consider Bitcoin to be the newest entrant in the store-of-value category. An investment product that holds its purchasing power over time. Ideally coming with consistent price increases. This is possible thanks to halving - the brilliant mechanism hard-wired into the Bitcoin protocol. The minds behind the original digital currency conceived it as deflationary. A concept alien to the present financial system, flooded with central-bank cash and government stimulus. The reason is that, contrary to fiat currencies that inflate over time, Bitcoin should not be debased by inflation. Satoshi Nakamoto explained this inflation-rate flaw in an online forum around the time of Bitcoin’s inception. "The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” Halving and the Way Forward If there’s a need to draw broad conclusions, here are some of the more salient points to make a compelling argument. Bitcoin’s purchasing power is likely to avoid debasement thanks to the halving mechanism. With less than 10% of Bitcoin still to come to the surface, it will take more than 100 years for the last unmined Bitcoin to pop out. Once all the 21 million Bitcoin spring to life, miners will no longer stake their livelihood on uncovering new tokens. Instead, they will earn revenue from network fees for their work on validating transactions. But that’s only if the network sticks to the plan. FAQ ❔ "What is the purpose of halving?" ► Halving maintains a decreasing pace of block rewards, which emphasizes on the idea of scarcity in Bitcoin. ❔ "When is the next Bitcoin halving?" ► The next Bitcoin halving event is scheduled to occur on April 19, 2024. This date is approximate, and the actual date may be different, depending on the time it takes to complete one full batch of 210,000 blocks. ❔ "Is halving related to price increase?" ► Technically, when the supply of new Bitcoin is cut in half, and demand remains the same, prices may go up. But the price discovery of Bitcoin does not obey archetype models of economics. ❔ "When will the last Bitcoin be mined?" ► Estimates point that the last available Bitcoin will be mined in the year 2140.
BITSTAMP:BTCUSDEducation
by TradingView
5
Eldorado Gold Strong Production Figures Ignite Investor Optimism In the dynamic world of gold mining, Eldorado Gold Corporation (NYSE: NYSE:EGO ) emerges as a beacon of success, reporting robust production figures for the fourth quarter of 2023 and achieving its full-year guidance. The recent announcement of preliminary gold production of 143,166 ounces in Q4 and an impressive 485,140 ounces for the entire year reflects Eldorado's commitment to operational excellence and strategic growth. This article delves into the key highlights of Eldorado's performance, analyzing its operations in Canada, Turkiye, and Greece, and explores the positive technical outlook that has investors optimistic about the stock's future. Eldorado's Production Triumphs: 1. Canada: The Lamaque Complex Sets Records - The Lamaque Complex takes the spotlight with record-breaking gold production in both the fourth quarter and the entire year. A 29% increase in Q4 production over the previous quarter is attributed to enhanced grade and mill throughput. Eldorado's success in Canada reinforces the Company's operational efficiency and resource utilization. 2. Turkiye: Kisladag and Efemcukuru Showcase Strength - Kisladag experiences a 24% surge in gold production during Q4, fueled by increased tonnes placed on the pads and improved irrigation rates. The commissioning of the North Heap Leach pad in Q3 plays a pivotal role in this growth. Meanwhile, Efemcukuru achieves record throughput rates in Q4, averaging 1,500 tpd, contributing to meeting full-year gold production targets. The completion of the mine rock storage facility positions Eldorado for more efficient waste rock and tailings management. 3. Greece: Olympias Delivers Record Annual Production - Despite a slight dip in Q4 gold production at Olympias compared to the previous quarter, the mine achieves a record annual production due to operational initiatives implemented throughout the year. Improved ventilation and increased productivity within the Flats zone, enabled by larger stope sizes and bulk mining methods, underscore Eldorado's commitment to continuous improvement. Technical Outlook and Investor Sentiment: Eldorado Gold Corporation's stock ( NYSE:EGO ) stands out in the market, trading near the top of its 52-week range and comfortably above its 200-day simple moving average. The price momentum signals a positive sentiment among investors, with the stock showing upward momentum. Investors are optimistic about Eldorado's future value, further bolstered by the Company's strong operational performance in 2023. Conclusion: Eldorado Gold Corporation's impressive gold production figures for 2023, position the Company as a compelling investment opportunity. Investors are likely to be encouraged by Eldorado's operational achievements across its key assets in Canada, Turkiye, and Greece. As the Company continues to demonstrate resilience and growth potential, Eldorado Gold shines brightly as a promising player in the gold mining sector, attracting attention and confidence from the investment community.
NYSE:EGOLong
by DEXWireNews
Correlation between RIOT | BTC 📊 Today, let's dive into the intriguing world of crypto mining and its connection with Bitcoin. We'll compare the charts of the mining company RIOT Blockchain (RIOT) and Bitcoin itself, shedding light on the correlation between mining-related stocks and the leading cryptocurrency. 📊 The Mining Equation: Mining is a fundamental component of the cryptocurrency ecosystem, and it's a process that should ideally be profitable. As miners secure the network and validate transactions, their success can often align with the overall health of the crypto market. 🧰💰 RIOT and Bitcoin: A Comparison: When analyzing the charts of RIOT and Bitcoin, you'll often notice a correlation. RIOT's performance tends to be influenced by the price movement of Bitcoin. As Bitcoin's price rises, it often brings increased profitability for miners, reflected in the performance of mining-related stocks. 📈🚀 What to Watch For: Correlation Strength: Pay attention to the strength of the correlation between Bitcoin and mining stocks like RIOT. A strong correlation suggests that the profitability of miners is closely tied to Bitcoin's price. Market Sentiment: Keep an eye on market sentiment and macroeconomic factors that can influence Bitcoin's price, as these elements can have a ripple effect on mining operations. Diversification: Consider diversifying your portfolio to include assets that can serve as hedges if there are fluctuations in mining profitability. Conclusion: The performance of mining-related companies, like RIOT, often depends on the price and profitability of Bitcoin. This correlation means that watching Bitcoin's charts can provide insights into the potential performance of mining stocks. The cryptocurrency market is dynamic, and staying informed and adapting your strategy to the evolving landscape is key to success. Keep a close eye on both Bitcoin and mining-related stocks to make well-informed investment decisions. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
by AlexWhale
📈 Bitcoin's Hashrate - Bullish ! 📈Bitcoin's hashrate has become a significant indicator for its future price movements, and the recent surge in hashrate is turning heads. ⛏️🚀 Hashrate Leading the Way Bitcoin's hashrate, the computational power dedicated to mining, has surpassed the price chart, setting the stage for a potential bullish trend. Historically, hashrate surges have often preceded significant price increases, showcasing the link between mining profitability and Bitcoin's value. Miners and Their Commitment One of the key factors behind this phenomenon is the unwavering commitment of miners. The mining industry has become more professional and institutional, with companies investing heavily in infrastructure and technologies. This commitment ensures that mining remains a profitable endeavor, even during market downturns. Why it Matters: A Secure Network Bitcoin's hashrate is not only a price indicator; it's a testament to the network's security. The more computational power is dedicated to mining, the more secure and resilient the Bitcoin network becomes. The Road Ahead: Anticipating a Price Rally With the hashrate leading the way, Bitcoin traders are eyeing a potential price rally. The historic correlation between hashrate and price movements suggests that a bullish trend might be on the horizon. Conclusion: A Strong Foundation Bitcoin's hashrate surge showcases the strength and resilience of the network. As miners continue to invest in mining, Bitcoin's fundamentals remain robust. The interplay between hashrate and price is a promising sign for the cryptocurrency market. ❗See related ideas below❗ Like, share, and leave your thoughts in the comments! Your engagement fuels our crypto discussions. 💚🚀💚
INDEX:BTCUSDLong
by Yaroslav_Krasko
Uranium Mining OutlookURA in a 3rd wave and could possibly have topped here at the 28, but it also could be setting up higher for a 5th wave finish 32-36 area. When I first looked at it, I saw the possibility of a great buying opportunity in the $14-16 area if things break down. Right now I think we need to hold the $24-22.5 area to keep this bullish move upward. Otherwise the 14-16 becomes a greater likelihood and then will have to start seeing if the projections of the move line up to that target of $14-16. Not financial advice
AMEX:URAShort
by cryptowaveman
Lagger that refuses to fall and dreams about greatnessThe world's largest producer of nickel and palladium has had rather lackluster performance in 2023 advancing half as the general Russian Index. And still I cannot get over his accurate price structure that hints that better days are potentially ahead. I want the price to start forming the right side and later the handle of a cup, and break out above important Sep'22 and Sep'23 high - 17240 area. If price will not be able to hold Sep'23 15730 low, I would want the area above 15250 and 200D line to act as support. Bellow this levels the analysis is to be considered wrong and invalid. Trading thesis : cow-boy type longs (higher failure risk) may be considered above 16430 area with 3 and 5% stop levels.
RUS:GMKNLong
by artemfedorov