Since last Friday, I expect a new leg up in the gold stocks. Minimum target the top channel. If new gold leg up is stronger gold stocks could go higher, surpass the channel and then correct. I expect this leg to last at least three days or so. Then..... Following previews patterns, consolation for a few more weeks, but unless there is very sharp upleg...I don''t expect any strong correction in prices. Just consolidation without crossing the horizontal line in the short future (next two months). That also means that I don´t expect gold to go down from this levels. If there is a sharp leg up, it cant correct again to this level, but not less. This is my scenario in the near future. let see how unfolds.
Good luck. Just my opinion.
You don´t need my help to loose your money.
Good luck. Just my opinion.
You don´t need my help to loose your money.
Trade closed: target reached:
Top of the channel reached. A top in the index may be in place today/tomorrow. I´ll take my positions out of the table today and tomorrow. Then wait and see if (or until) the leg up resumes. Shorting the index is dangerous for my point of view at this time.