Analyzing the options chain and the chart patterns of MARA Marathon Digital Holdings prior to the earnings report this week, I would consider purchasing the 8usd strike price in the money Calls with an expiration date of 2023-11-10, for a premium of approximately $1.50. If these options prove to be profitable prior to the earnings release, I would sell at least...
As you can see on the chart, NASDAQ:RIOT has formed a rising channel and has broken to the downside and is currently testing the channel as resistance. Should it not be able to make it back into the channel, then my bias leans towards more downside before higher prices. As of now, I lean towards the lows getting retested or broken and a bottom forming around...
In the current blue wave (c) of the GDXJ, the bulls pulled out their defibrillators and breathed some life back into the market. With a 5.5% gain, the wave extension continued, which should carry on above the next resistance at $43.89 and then enter the magenta Target Zone ($57.36 - $65.95). In this price range, both the top of the blue wave (c) and that of the...
The pattern on Bitcoin is really similar to Ethereum, which I outline in a recent call: Ethereum - A Sucker's Rally Before The Bitter Winter The difference between Bitcoin and Ethereum is ETH has more than 50% upside available to hit its similarly-placed goalposts, while BTC is just another ~30%. Fundamentally, the problem for crypto bulls is that the 2021...
In my last analysis, I was waiting to see how price reacts from the Oct lows. If BTC was moving higher but RIOT was not, it would be the warning sign. And things might be playing out that way. Unfortunately, price went too high up to still be an ending diagonal structure, which I was hoping for. Instead, now things are looking like a much larger ABC pattern with...
On the weekly chart, Hochschild Mining looks to have broken out from 95.75 resistance. This bottom started to form in July 2022, so it's taken a year and 5 months to complete. As Gold is pushing higher this could mean more to come from this miner? WARNING: This not a recommendation to trade. Do your own research and decide on your own trades.
JDST, the 2x Inverse Return ETF for the Junior Gold Miners Index, has formed a Slanted Bullish Head and Shoulders pattern that is currently holding above the 21SMA. If it holds here, I can see it rising all the way up to $12-$17 as gold loses steam.
CLF has confirmed the breakdown of a Bearish Dragon and has tested the 200 SMA and the Weekly Support Resistance Level of $14.37 as Resistance again. Now I am going to be looking for CLF to come down to make a 0.886 retrace from here, which should take it down to about $6.5 as it completes the Bearish Dragon
FCX has formed and confirmed the break down of a Diamond Top pattern and looks to be preparing to come down to around $14, which would align with the 0.786 Fibonacci Retrace. I suspect many other mining stocks will also go down pretty significantly with this.
As long as the price holds recent Oct lows, I will continue to expect it to move towards next important resistance area: 31-35-38. Afterwards it would be ideal for price to consolidate and form a handle part of the cup with later break out above 35 pivot to confirm its intentions to move to next important resistance areas: 43-48-52 Short-term trading...
Miners are a short-term sell with a longer-term buy on harmonics. SSTIS is a confirmed sell and a fake bear. 2D MV chart is a confirmed sell and we can see there an initial MVO bear surge signal. 2D MV fakeout chart is a non-fake bear. It means, after soe oscillation, the way of miners is down. As the MVO bear surge is fresh, we need to wait 2-3 trading days and...
Gold and Silver have been holding strong, but weakness suggests another move down before support. As for metal miners, could there be a better set-up possible? Most all of them are sitting near historical lows looking to bottom out on the weekly RSI. I posted in July, 2022 that gold would move sideways until 2024, and then, blast-off. Think we're close....
NASDAQ:MARA has rejected off a key resistance area and is headed towards the bottom of the channel around 13$. If BTC continues to show weakness and the Macro Economic situation does not improve, we can expect MARA to break the lower trendline and move to the 9$ level. I am ultra bullish on MARA for the long term and will be loading my bags once we hit these...
Miners are a short-term buy with a longer-term sell signal with extremely overbought short-term inernals. SSTIS is a short-term sell with a longer-term buy signal and a fake bear. 2D MV chart is a confirmed buy. 2D MV fakeout chart shows a fake bull. As a reflection to the forecast on dollar, I've extended the miner's forecast as well. Usually dollar down means...
Miners are a short-term buy with a longer-term sell signal on harmonics. SSTIS is a confirmed buy with a fake bear setup. 2D MV chart signals a short-term buy with a longer-term sell signal with an elevated buy signal on SBV but below of SBV sell signal and an MVO bear/bull swtich. 2D MV fakeout chart signals a fake bull setup. SVT is cautious with this setup and...
This is a follow up to my June 2 call for a new ATH on Gold, that will be bearish, instead of bullish: Gold - When A New ATH Prints, Will You Get Trapped? In the process of tracking this, price action did not meet expectations (in the sense that it has not traded low enough), and so I began to reconsider the overall topography of the market. Also, right...
First Majestic Silver - NYSE:AG - Risk/Reward Ratio 12 - Positive Divergence - Spring reversal from under ascending triangle - Green circle is the convergence of 200 DSMA, POC & break out from falling wedge. A break & close above $7.10 may be confirmation You could enter here and place your stop as outlined on the chart and be ok with 20% hit in the...
The VanEck Junior Gold Miners ETF (ticker: GDXJ) has entered a certain minefield here. Our short-trade target zone has already been dealt with and the corresponding high of the turquoise wave (ii) was placed accordingly within said zone. We are now anticipating further impulsive sell-action in accordance with the general bearish trend. If the bulls want to start...