Fresnillo is now off to the races to 1065 before it hits the next resistance level. I would then expect to go back up to 2016 highs once silver breaks out of its descending channel.
If you are looking at opporunties to play silver and gold upside, I suggest you to look into FRESNILLO. Prices have just broken out a long falling wedge (over 2 years). The risk reward is appealing.
The stock LSE:FRES - Worlds largest primary silver producer. The thesis XAUUSD has been on a pretty strong run over the last five years, and always does well during turbulent times or when banks turn to QE . There's every indication the FED & other central banks will be printing money like it's going out of fashion over the next few months/years. Silver prices...
Update: GL to anyone who traded on the previous idea. Good upside, zone highlighted could just be the start for those "invested" in the shares, expecting it to swing much higher over the next couple of years...
Long opportunities continue to present themselves while this technical standpoint continues to play out. Sized in from the bottom and looking to sit on my hands to take profit at key levels on the chart. Trade with care. Note: This idea follows my own tried and testing trading strategy and rules. This idea does not constitute trading guidance for anyone else. DM...
Long opportunities continue to present themselves while this technical standpoint continues to play out. Sized in from the bottom and looking to sit on my hands to take profit at key levels on the chart. Trade with care. Note: This idea follows my own tried and testing trading strategy and rules. This idea does not constitute trading guidance for anyone else....
Does the monthly pattern show a harmonic short in play?
Potential change in trend indicative through the insane volume spike.
Watching for price to reach the blue line
FRES trading at discount to silver and 20/80 MA's moving towards positive divergence. Price target of 900 with the discount to silver removed.
If we get a break below the signal line then this looks to be a decent risk reward. LSE:FRES
Falling wedge, gold making a similar pattern and breaking out today. Any significant move in gold should inspire a simultaneous move in Fresnillo. Fib targets.
Fresnillo is still coiling on the weekly, likely to last into 2020 before any sign of a true breakout. Significant weakening of the USD - likely given their 'not-QE' $120B stimulus package - will lead to a rush to relatively cheap gold.