Bullish triangle pattern forming and possible breakout to come. Not much volume though although good performance in the past few months.
Technical Analysis After moving in the sideways trend for a while, ADMR made a descending broadening wedge pattern. Furthermore, ADMR has broken out of the Falling Wedge Pattern. The Breakout could indicate a possible starting point for the Markup Phase. The Markup Phase is the stage of price breakout of the trading range and starts to rise steadily. Therefore,...
While First Majestic had actually already made it to the upper edge of the turquoise zone between $6.89 and $12.36, it has shied away and drawn back again until the retracement at 61.80%. Thus, we still give it some time to finish wave 2 in turquoise – although it could also continue the ascent from here. As soon as wave 2 in turquoise is completed, First Majestic...
Fresnillo is back to being reasonable and – in accordance with our expectations – has moved downwards again. Now, it should keep up this drive to make it below the support at GBP 456.60 and thus into the turquoise zone between GBP 473.60 and GBP 250.00, where it should finish wave (2) in yellow. There is a 35% chance, though, that Fresnillo could escape above the...
SOUTHERN COPPER CORPORATION Short Term - We look to Buy a break of 48.98 (stop at 45.51) Price action produced another positive week, last week. Trading within the Wedge formation. The bias is to break to the upside. A higher correction is expected. Our profit targets will be 58.22 and 60.00 Resistance: 48.90 / 60.00 / 80.00 Support: 46.80 / 42.00 /...
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...
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,...
… 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...
First 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...
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...
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....
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...
Bulls 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%...
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...
I 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...
Australian 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...
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....
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...