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Fresnillo: Bearish Success 💪🐻The Fresnillo-bears can announce a first success: Finally, the share has arrived at the support at GBP 610! Next, our furry friends should push Fresnillo below this mark to gather further downward momentum. Then, the share should also pass the support at GBP 456.60 to develop wave C in turquoise. However, there still remains a 20% chance that Fresnillo could change direction and climb above the resistance at GBP 997. In that case, we would expect the share to place the new top of wave alt.B in turquoise in the turquoise zone between GBP 1086 and GBP 1292 before turning downward again.
LSE:FRES
by MarketIntel
Cameco... Still GoingCameco continues to gain in price as spot uranium moves higher. We are seeing textbook breakout out of a triangle pattern with Cameco on pace for its highest monthly close since February of 2011. Lower PPO indicator is in the process of a bullish cross of the green PPO line above its purple signal line. Both of these lines trending above the 0 level indicates that the overall momentum behind price is bullish, and with the bullish cross of the two lines it means that the short-term momentum is shifting back to positive as well. Lower TDI indicator shows the green RSI line back in the upper half of the Bolling Bands which indicates a shift back to positive price trend. The green RSI above 60 indicates that the bullish trend is increasing, and as long as the green RSI continues to trend between the 40-80 levels going forward the longer trend behind price will be considered bullish. This is from the Cardwell RSI strategy which is one of the best methods for reading the RSI if you aren't already a fan of the Cardwell RSI. Cardwell RSI: youtu.be The nuclear movement has a fan in Oliver Stone who recently created and released a documentary about the need for nuclear power: www.nuclearnowfilm.com
NYSE:CCJLong
by PrepForProfit
(ASX: $SPQ) ASX:SPQ Potential move to Z2 (Zone 2), due to increasing bullish volume, interest from retail, and organisational bodies. I don't think we'll see major moves in share price until we get some interesting market news. Top 20 Holders have remained the same over the last 2 years, current price reduction represents retail investors cutting losses. Despite having positive market news in April, sophisticated investors did offload some of their shares, not for a huge profit, but in order to buy back in at a lower price. ASX:SPQ Recently raised $4M AUD to proceed with further drilling and exploration projects. Options have been released with an execution price of 0.06c before Nov 24. This can be viewed positively, as the company is confident in its short to medium term capability, and is expecting to please investors. The top 20 Holders own roughly 31% of market share, considering they have remained the same over the last 2 years, we can be confident that they aren't going to dump huge volume on us retail investors. We can use the RSI to visualise how the institutions are maintaining a level of support at this key level, hopefully pulling us out of this 3 stage downtrend. I'll try and update this Idea as we get more information from the company in this exciting time!
ASX:SPQLong
by boiledpeas
Barrick: Barrick Bears 🏉Ever heard of the Barrick Bears? They are a great team, which should help to push our primary scenario for Barrick. Currently, they have to fight against a little bullish counter reaction, but soon they should drag the share below the support at $12.65 and into the yellow zone between $11.97 and $6.32. There, wave (2) in yellow should end and therefore a fresh upwards movement should start. However, there is still a 25% chance for the Barrick Bulls to intervene. They could urge the share above the resistance at $22.80 and thus trigger further ascent.
NYSE:GOLD
by MarketIntel
RIO TINTO (Waiting for Confirmation)Rio Tinto – Mining Market Cap: €1.35 bln Price: $61.74 6 Month Dividend: $2.24 (c.3.2%) – March 2023 Quote Dividends recently cut significantly from $4.79 in March 22 (c.5.7%) to $2.24 April 2023 (c.3.2%). Chart - Whilst the long term trend is up with higher lows on the large pennant since 1990, we have not made a higher high since May 2008 and this is a little concerning long term. - On Balance Volume continues increasing which is position and offers some reassurance. We do have our first lower high here on the short term and this could signify a change in price direction. - In terms of a trade, I’m inconclusive for now. I would like the RSI to come back down to the bottom of the purple RSI pennant at minimum (Short Term Buy potential) or become totally oversold on the RSI for a confident buy in. - Any tests of the bottom of the large pennant would be ideal but this may never happen again, time will tell so we focus on the RSI for now. - At present price is pincered between the 200 week SMA and key support. This is likely an inflection point. A good time to wait and see. - An upward sloping 200 week is positive but it is also acts as resistance and until we are above it again, it will remain resistance. Getting a hold above it could offer a buying opportunity. - I will update the chart when we have some confirmation of direction
NYSE:RIO
by PukaCharts
Fresnillo: Easter Egg Hunt 🥚🐣🐰Has Fresnillo gotten lost, hunting for Easter eggs? We don’t think so! We rather understand the share to be swerving, interspersing its way with a little counter movement. Soon, the course should return to the main path and fall below both the supports at GBP 610 and GBP 456.60 to continue the descent. However, a 30% chance remains for Fresnillo to make a more extensive detour. In that case, the share would climb above the resistance at GBP 997 to develop wave alt.B in turquoise in the turquoise zone between GBP 1086.00 and GBP 1292.50 first before heading downwards again.
LSE:FRES
by MarketIntel
XPTUSD - BULLISH SENTIMENTXPTUSD - has been ascending solidly with minor exceptions in a bullish channel since the beginning of February 23. Due to some uncertainties around the mining crisis in SA, one of the largest producers of the precious metal the price tag by BofA is set around $1400-$1500 by year-end, which makes a 40%-50% anticipated surge in the next 7-9 months. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
OANDA:XPTUSDLong
by legacyFXofficial
First Majestic: Room for Maneuver 🤏First Majestic is still wading through the turquoise zone between $12.36 and $6.89 to finish wave 2 in turquoise. To achieve this, the course still has got some room for maneuver – at least until the bottom of the turquoise zone. However, it also might have already completed the current movement, thus continuing the ascent. As soon as that is the case, we expect First Majestic to climb out of the turquoise zone, heading for the resistance at $19.41. There is a 45% chance, though, that the course could drop out of the turquoise zone and slip below the support at $5.30. Should this indeed happen, the share should develop a new low in the form of wave alt.2 in green near $2.91.
TSX:AG
by MarketIntel
Newmont: Flirty 😉Newmont is flirting quite heavily with our alternative scenario, moving closer and closer to the support at $37.45. By now, it is touching the upper edge of the yellow zone between $42.50 and $23.41, on the verge of slumping deeper. There is a 40% chance that the course might do so, dropping below the support at $37.45 to develop wave alt.(2) in yellow earlier already. However, primarily, we still expect Newmont to turn upwards first to head for the turquoise zone between $67.68 and $80.84. There, the share should place the top of wave B in turquoise before starting a fresh downwards movement, which should then lead into the yellow zone and thus below $37.45. Beneath this mark, Newmont should complete the overarching descent in the form of wave (2) in yellow.
NYSE:NEM
by MarketIntel
UPDATE Sibanye short going nicely target still to R35.77SSW Update The M formation formed nicely, broke below the neckline. The price is coming down as the supply increases and the momentum is still down. 7<21<200 RSI<30 Target remains at R35.77 ABOUT Sibanye-Stillwater (founded in 2013) is a mining company based in Johannesburg, South Africa, that specializes in precious metals extraction. As a spinoff from Gold Fields Limited, it has since grown to become one of the largest mining companies in South Africa. Sibanye-Stillwater operates four gold and platinum group metals mines in South Africa, as well as mines in Zimbabwe and the United States. Sibanye-Stillwater has a workforce of approximately 84,000 people across its operations. Also. it has interests in platinum recycling and other metals processing.
JSE:SSWShort
by Timonrosso
Future of RIO, BHP and the sectorI have had a pretty large position in RIO and BHP since end of July 2022, I bought expecting the market to recover and for copper/iron demand to jump from the re-opening of China and the rest of the world. These positions have given me quite the return with their pretty high yields. Having said this, we can see that the steam from the market's comeback has slowed down, copper, iron and ore prices in general have met some resistance and both RIO and BHP have taken a step back from their highs. I don't think there is much more gain to be made with these stocks even though their structure and their fundamentals are highly attractive. I like to invest in one sector at a time, trying to spot which one will be the next to glow up. I think the mining and refining sector has had it's run. Therefore, I'll most probably be exiting my positions in both these companies after collecting dividends and the most probable upside from the upcoming earnings. Extra: I am mostly exiting my position because of what I said above, but I've slowly started to consider the rising tensions between China and the western world. Though sanctions would be an economical blunder for everyone in play, having your biggest consumers be in a cat fight is certainly not preferable for business.
NYSE:RIO
by mikamaster_
Fresnillo: Getting Down for Business 👇Since the end of wave B in turquoise, Fresnillo has been continually getting down for business. And the share should keep going as we expect it to march below both the supports at GBP 610 and at GBP 456.60. There is a 35% chance, though, that the course could turn upwards and climb above the resistance at GBP 997 instead. In that case, Fresnillo should enter the turquoise zone between GBP 1085.80 and GBP 1292.80 to develop a new high in the form of wave alt.B in turquoise before moving southwards again.
LSE:FRES
by MarketIntel
$BTC/USDT 12h (#Bybit) Ascending trendline retestBitcoin just printed a shooting star like 6 months ago, which is a reversal candlestick. Also, we got a bearish divergence on RSI, this could finally lead to a retracement down to 100EMA. ⚡️⚡️ #BTC/USDT ⚡️⚡️ Exchanges: Binance Futures, ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (7.0X) Amount: 6.8% Current Price: 23776.0 Entry Zone: 23809.5 - 24317.5 Take-Profit Targets: 1) 22860.5 2) 21954.5 3) 21049.0 Stop Targets: 1) 25070.0 Published By: @Zblaba
Short
by TradingOn