Pan American Silver: Little Room Left… 🤏Pan American Silver has made extensive use of the blue zone between $21.88 and $13.94 and has little room left to finish the overarching downwards movement. As soon as it has completed wave (ii) in blue, though, it should turn around and gather enough upwards momentum to head for the resistance at $40.11. However, there is still a 45% chance that Pan American Silver could break through the bottom of the blue zone and drop below the support at $10.61, which would then trigger further descent below the next mark at $5.38.
Miningstocks
Newmont: Humpty Dumpty 🥚🧱Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king’s horses and all the king’s men
Couldn’t put Humpty together again .
Well, Newmont shouldn’t have such a great fall that it can’t be put together again. Tough, just like the egg headed character from the British nursery rhyme, it is sitting on the big yellow wall between $42.50 and $23.41, in which it should drop to finish wave (2) in yellow. Afterwards, Newmont should turn upwards, heading for the resistance at $86.37.
Agnico Eagle Mines: Knock on Wood…🪵… or rather: Knock on the resistance at $45.42. Thrice, Agnico has rapped on this mark, without surmounting it, however. Now, the bears are back in charge and should continue to drag the price below the support at $31.03. There, Agnico should enter the yellow zone between $19.10 and $10.08 to finish wave (2) in yellow. There is a 35% chance, though, that the bulls could intervene and drag the price above the resistance at $74.50, thus enforcing further ascent above $89.16 as well.
First Majestic Silver AG - Rare OpportunityFirst Majestic silver along with the rest of the mining stocks have been pummeled the last few weeks.. or months..er I mean years. It is my strong opinion that a rare opportunity has opened up in many of these stocks - historical.
These monthly candles really help depict the birds eye view necessary to spot the larger patterns and trend. AG has been forming a large wedge for many years and broke out a few years ago.. Price is now on the launchpad. It might be a slow rocket getting off the ground but it has a tremendous amount of fuel.
First Majestic: Refinishing…Like an artist with their painting, a craftsperson with their handiwork or a cook with their most exquisite dish, First Majestic seems not yet ready to let go of its work in the turquoise zone between $12.36 and $6.89 and apparently wants to add a finishing touch. Thus, it has arched back downwards and could aim for completing wave 2 in turquoise a bit deeper still in the turquoise zone. As soon as the current downwards movement is concluded, though, First Majestic should turn upwards and head for the resistance at $19.41. However, there is a remarkable 45% chance that First Majestic could break through the bottom of the turquoise zone and drop below the support at $5.30, which would then trigger further downwards movement.
Barrick: To the Beach ⛱The bears have grabbed Barrick and are dragging it along southwards to the warm and sandy beach strip between $11.97 and $6.32, which is seated picturesquely below the support at $12.65. Once there, though, there’s not too much time to relax but also work to be done: Barrick should finish the long-term corrective movement in the form of wave (2) in yellow. Afterwards, the bulls should take over so enthusiastically that the beach sand is swirled up and push Barrick northwards. However, there is a 35% chance that the bulls could intervene earlier already and shove Barrick above the resistance at $26.07, thus eliciting further ascent above the next mark at $31.22.
Pan American Silver: Low 🎤 🎧She hit the floor (she hit the floor)
Next thing you know
Shawty got low, low, low, low, low, low, low, low…
“Shawty”, in this case, is Pan American Silver, which is shaking its “big booty” in its “apple bottom jeans” to the beat of Flo Rida’s song Low and is progressing deeper into the blue zone between $21.88 and $13.94. It has not (yet) “hit the floor” but could of course use the blue zone until the bottom to finish wave (ii) in blue. Afterwards, though, Pan American Silver should take off, heading for the resistance at $40.11. However, there is a 38% chance that Pan American Silver could get too low and thus drop below the support at $10.61, which would then trigger further downwards movement below the next mark at $5.38.
Fresnillo: Attention SeekerBulls and bears are currently both angling for Fresnillo’s attention. We still expect the bears to win, though. They should grab Fresnillo and take it below the support at GBP 456.60, pulling it into the turquoise zone between GBP 473.60 and GBP 250 to finish wave v in magenta as well as wave Z in turquoise and wave (2) in yellow. However, there is indeed a 32% chance that the bulls could be victorious instead and push Fresnillo above the resistance at GBP 997.60, thus eliciting further ascent above GBP 1379.
Newmont Corp. stock analysis: Has NEM bottomed out?Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings.
On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to a year-to-date low of $44.
Since then, however, NEM appears to have formed a very solid support at $44, which has not been broken downwards, indicating that the sellers’ strength may have faded.
NEM could have bottomed out here, but it has yet to gain traction, as prices have consolidated in a tight range between $44 and $47 over the past two weeks.
The RSI is still in oversold territory (26) but is rising slightly. Instead, the MACD provides a bullish crossover signal as the MACD line crossed from below to above the signal line.
If we are on the verge of a new bull trend, the first hurdle to overcome is undoubtedly the psychological level of $50, which served as support prior to July 25th. A breach of this level would also lead to a breakout of the 2022 bearish trendline and encourage a test of $54.04 (the 23.6% Fibonacci retracement level from April 2022 high to July 2022 low). Alternatively, if there is a fresh round of pessimism, the market may retest the $41-41.7 level that served as support in March and April of 2020.
Analysis written by Piero Cingari, forex and commodity analyst at Capital.com
$ARBK Long + Bitcoin + PivotI have been bullish on Bitcoin for a long time and have posted a ton of charts on here regarding the bilateral trades with Bitcoin miners so this is part of that work.
$ARBK , $BTCM , $MARA are the main longs I am in and building positions right now.. the main reason is these mining companies are currently mining under $5,000 per Bitcoin so even if Bitcoin falls to $9800 which is likely in a capitulation dump (IF)
These 3 miners have strong balance sheets, low cost to capital, and are extremely under valued due to earnings and tradfi not understanding the trade. (exclusion there is Mara... they have not sold any Bitcoin so they have the biggest exposure to a dump)
This long is simple... I believe the fed will pivot before 3.0001% and any higher than that we will see a real crash which will never happen for midterms.
Under the long term moving averages and I am wrong on my timing.. and I will take the L then look for reentry
The land down underAustralian unemplyment figures have been at absolute all time lows, even taking out the beginning of the end of the mining boom in the late 2000's. With the mining boom in western australia came the strong AUD rate which really hurt the east coast which attracts a lot of tourists. The strong AUD means mainly international tourists look to cheaper destinations. In 2022 we have seen a new boom in mining again in western australia. This new boom, along with all time low unemployment might be a good opportunity to purchase a bag of AUD and RioTinto stock and sit on it for a few years. This is not financial advise, so its not.
Agnico Eagle Mines: Keep Your Eyes on the Ball! 👀This is what we tell the bears currently busy with Agnico. Our furry friends shouldn’t let themselves get distracted by the little countermovement, but should rather continue to focus on our primary scenario – just as they have been doing so admirably lately. Thus, we expect the stock price to resume the descent and to fall below the next support at $31.03. However, there remains a 30% chance that Agnico could develop massive upwards momentum and rise above the resistance at $74.50. In that case, the stock price should gain even more drive and cross the next resistance at $89.16 as well.
Pan American Silver: Exciting!The tension is building! Pan American Silver is getting closer to the middle of the blue zone between $21.88 and $13.94, where it should ideally complete wave (ii) in blue. As soon as this is done, Pan American Silver should turn around and move upwards, heading for the resistance at $40.11. A 38% chance remains, though, that the price could drop through the blue zone and below the support at $10.61, thus initiating further descent below the next support at $5.38.
Barrick Gold: Keep It Up, Bears! 🐻Down it goes! Just as we expected, the bears are in high gear and have proceeded to carry Barrick downwards. Soon, they should reach the support at $13.01 and lead the price below this mark. However, there still remains a 35% chance that Barrick could escape the bears’ paws and rise above the resistance at $24.95, thus activating further ascent above the next ones at $29.59 and $31.22.
First Majestic: Should I Stay Or Should I Go?“Darling, you’ve got to let me know – should I stay or should I go?”
This song by The Clash seems to be sounding in the background while First Majestic is thinking. As it has already reached the ideal target point for wave 2 in turquoise, the share price could directly go upwards now, rising above the resistance at $19.41. Likewise, it could stay to finish wave 2 in turquoise a bit deeper in the turquoise zone between $12.36 and $6.89. However, there is also a 45% chance that First Majestic could drop below the support line at $5.30, thus activating further descent.
Freeport McMoran Strong Future PositionFreeport-McMoRan's relatively strong position
significant producing assets in the U.S.
and Indonesia and expansion opportunities
puts it in a somewhat stronger position. In short,
the outlook for copper prices is good
They are forecasting steady annual sales growth.
2023 is expected to be an even stronger year than 2022, and
2024 is expected to be weaker but still stronger than 2021.
This provides a runway for significant sales improvement
for the company and continuous income for the company in the upcoming years
Agnico: On Track!Despite smaller counter movements, Agnico continues to follow our primary scenario. We expect it to fall below the support line at $45.42, which should confirm further descent below the next support at $31.03. However, there is a 32% chance that Agnico could chose the other direction and cross the resistance at $74.50, thus reinforcing upwards movement above the next resistance at $89.16.
Riot Blockchain: Weekly RSI illustrating attractive Risk-Reward?Riot Blockchain has been punished harshly over the last few months.
Its common knowledge that Riot is closely correlated to both Tech Equities and Bitcoin. It is also effected by Crypto mining sentiment and macro factors.
With this in mind I believe that this stock is greatly undervalued. I believed it was undervalued at $11-12 but macro-economic factors have distorted this: Central Bank Raising rates; Ukraine-Russian War related Supply Chain Problems; Inflation caused by Supply chain disruptions: War profiteering from Oil companies keeping supply lower than needed.
Between the ranges of $3.60-$4.80 is the ideal accumulation zone. Many holders have a cost base higher, including myself.
Due to rapid growth in the companies mining capacity, which is accelerating into the start of 2023. The company is significantly undervalued from a fundamentals stand point.
The Daily RSI attractiveness is in a similar setup, to the multiple sub 30 RSI tests in 2018. A time period that was also a Bear Market.
1) Be greedy when others are fearful.
2) If you believe in a Companies business and promising future outlook. Don't let a bear market discount be the reason NOT the DCA. Even as the stock has been trashed recently, the fundamentals have not changed.
3) The fundamentals are the strongest in the mining business. With huge mining capacity coming online over 2022 & 2023.
>>> Eyes on the Medium to Long Term<<<
Just one swing traders opinion, not financial advice.
First Majestic: There it is!There it is! First Majestic actually did it – it has advanced into our turquoise zone between $12.36 and $6.89. Now, things are getting interesting. As First Majestic has reached the middle of the turquoise zone and thus has tapped its ideal target point for wave 2 in turquoise, it could already start to move upwards, crossing the resistance at $19.41. However, there lurks a 45% chance that First Majestic could fail to turn and could fall through the turquoise zone instead. In that case, it could drop further below the support at $5.30.
Alamos Gold Inc. (AGI)AGI in a strong position. Previous resistance at $10 level will be the next target.
HGU: Confirmed MACD Golden Cross on a monthly basisSince inception in 2007, this ETF has lost more than 90% of its value and it seems nobody is looking at it.
However, there is no denying that this ETF has been performing pretty well while techs are failing pretty badly these days.
As we can confirm MACD Golden Cross on a monthly basis, we might be facing a great opportunity to be in.
We should be aware of the risk of this ETF as it is leveraged.
Otherwise you can crack the shell and see its holdings to directly invest - extra analysis for each stock is recommended.
List of Holdings as of today
BARRICK GOLD CORP 25.28%
FRANCO-NEVADA CORP 17.69%
AGNICO-EAGLE MINES 14.22%
WHEATON PRECIOUS METALS CORP 12.45%
KINROSS GOLD CORP 3.94%
YAMANA GOLD INC 2.98%
B2GOLD CORP 2.67%
SSR MINING INC 2.64%
ALAMOS GOLD INC 1.82%
PRETIUM RESOURCES INC 1.73%
AG run?AG (First Majestic Silver) is looking good to us. Gold and the miners have been performing well so far. We see opportunity here. - HH
VALE: Uber Bullish setup for 2022, 40+Vale has a very bullish 1-2, 1-2 set up right now. This stock should reach at least the $40 level by Q4 2022 or Q1 2023 because that is where the 1.382 - 1.618 fibonacci extensions project to, which are the standard targets for a W-3. This count matches up well with the broader economic themes for 2022 of inflation, a weakening dollar, and increased investment in emerging markets. I have a large position in Vale.
