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Miners

Bright future ahead for gold and silver minersAs 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 thesis: I will wait for price to consolidate around prior highs (preferably 29-30), providing a low risk entry point to consider any long trades. Long-term trading thesis: Establishing a position within this potential basing periods along the right side of the cup with later breakout - all these looks reasonable for me for any positive expectations in coming months and 2024. Important notice: Elliot waves and fibonacci retracements are a very subjective form of analysis and I don't personally trade out of them. I use them only for the purpose of gauging structural potential of any assets, that allows me to put more confidence when low-risk trading set-up emerges. Analysis and opinion doesn't pay, only price pays.
AMEX:GDXLong
by artemfedorov
Gold - $2,000 Is a Death TrapThis 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 now, I have an open call on silver for $33: Silver - 33 Moons However, as price has not traded down the levels I regard as requisite to trigger a bull impulse, while I still believe that these high prices will manifest in the future, the market makers desire lower prices first. One thing to note about gold is both the monthly and weekly bars are actually bearish despite price having formed a long-term triple top: But in the shorter term (1H-4H-1D) candles, gold is clearly heading towards higher prices after bouncing exactly over $1,900. As I've said before, one of the problems with a metals bull market right now is that Xi Jinping and the Chinese government (the Chinese Communist Party) have amassed a large amount of gold in recent months. China's economy is doing extremely poorly following the decimation of the Party by Wuhan Pneumonia and the CCP faces threats on all sides, especially from the International Rules Based Order who now chatters about "de-risking" from China. Since the United States tends to be the market maker of everything, this is trouble for China's central bank. Large stocks of gold and a heavily declining price will put the regime in a great deal of trouble, depleting the money it has available for buying people off. And this is a huge geopolitical threat, for Xi Jinping has one Trump card to play: throw away the CCP in the middle of Beijing time, which is the U.S. night, and weaponize the 24-year-long persecution and genocide against Falun Dafa (Falun Gong) meditation, which was launched by Jiang Zemin and its band of toad cronies in Shanghai. Another thing to note is since the pandemic crash, BUT BEFORE 2022, gold has had something of an inverse covariance with the SPX and the SPX has an inverse covariance with the USD. But after 2022, gold has traded mostly in lockstep with the SPX, although in recent days and weeks that has begun to decouple. Looking at the daily covariance, gold and the USD have an inverse covariance with the overextended equities market: And I anticipate a USD rally, as I state here: DXY - The US Petrdollar And The "Prigozhin Coup" In Russia Since I believe what the market makers have in store for us is a significant downtrend in the equities market until September: SPX/ES - An Analysis Of The 'JPM Collar' Gold setting a new high right now doesn't make sense. And so what I believe will happen is the target for the algorithm right now is $2,030, and it amounts to a short squeeze/bull trap. This will both take out the June high and draw in buyside demand over the $2,000 level, since retail goldbugs are always pining for a new all time high. But the rally will fail, again, and the markets at large will fail again (except for Natural Gas). Natural Gas - The Girl Who Hopes You Remember Her And as the rally fails we'll see lower prices. Probably ending in the $1,800 range. This amounts to a 10%~ drop and is pretty painful if you're sitting leveraged long and even worse if you're leveraged on call options. If $1,800 is violated, then the top is probably already in, in my opinion. So, be careful and make sure you practice social distancing from atheism, Marxist-Leninism, the Theory of Evolution, QAnon, and the CCP itself. Long gold is about returning to tradition, and mankind's Heaven sent traditions are even more luminous than an entire vault of 100.00% pure AU.
COMEX:GC1!Short
by LordWrymouth
1
Minefield ⛏️💥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 another comeback though, they should’nt be able to increase the price beyond our still active second sell zone (between $39.33 and $41.67).
AMEX:GDXJShort
by MarketIntel
$BTCM chart analysis 👁‍🗨️*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* This morning my team purchased shares of Bitcoin Mining Company NYSE:BTCM at $2.70 per share. This post is mainly intended to allow others who are currently invested in this company to look at it through our own lens. NYSE:BTCM has strong ties with Hong Kong which is being used as a regulatory crypto hub for China. In addition, back on May 1, 2023 NYSE:BTCM announced its "Next Generation of Litecoin/Dogecoin Mining: LD4" which is designed for mining on the DOGE and LTC blockchains with "peak hash rate and energy efficiency." With Bitcoin now eyeing $35000-$36000 we can soon expect altcoins (particularly Ethereum and Doge) to run behind and catch a late run. Billionaire Elon Musk who now owns twitter may also be planning to utilize Doge and integrate it with twitter. This is speculation of course but if this becomes reality expect Doge to run hard and NYSE:BTCM will also share the glory. Our target right now is $4.66 if Bitcoin approaches $35k-36k. Good luck! Our Entry: $2.70 Take Profit: $4.66 Stop Loss: $2.53 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NYSE:BTCMLong
by SimplyShowMeTheMoney
Agnico Eagle Mines: Slowly but surely… 👍Slowly but surely, Agnico is devoting itself to the current downwards pressure. Despite the occasional counter movement, the share should soon reach and break through the support at $31.03. Thus, it should arrive in the yellow zone between $19.10 and $10.08 to complete wave (2) in yellow. As soon as this is done and dusted, Agnico can turn upwards again, climb back above $31.03 and further northwards from there. A 25% chance remains, though, that the share could get dragged above the resistance at $67.14 instead. In that case, we would expect the ascent to continue above $89.16 as well.
NYSE:AEM
by MarketIntel
$GOLD: Potential Bullish BAMM on A High Cash Flowing Gold MinerThis gold miner has a lot of cash flow and actually brings in some income, which are two traits that are quite rare to see in gold miner stocks. Though it does trade at a very high P/E, it still appears to be a financial rarity within the sector, and therefore the Barrick Gold Corporation has caught my attention, and I would expect that this one will be among the top performing miner stocks if the price of actual gold were to rise. As for the technicals, we have some monthly Bullish Divergence at the 100-Month Moving Average, and we are going to be looking to break above a trend line that could later bring us up to the 0.786-0.886 retraces to complete a Gartley.
NYSE:GOLDLong
by RizeSenpai
3
Fresnillo: Bearish Success 💪🐻The Fresnillo-bears can announce a first success: Finally, the share has arrived at the support at GBP 610! Next, our furry friends should push Fresnillo below this mark to gather further downward momentum. Then, the share should also pass the support at GBP 456.60 to develop wave C in turquoise. However, there still remains a 20% chance that Fresnillo could change direction and climb above the resistance at GBP 997. In that case, we would expect the share to place the new top of wave alt.B in turquoise in the turquoise zone between GBP 1086 and GBP 1292 before turning downward again.
LSE:FRES
by MarketIntel
Cameco... Still GoingCameco continues to gain in price as spot uranium moves higher. We are seeing textbook breakout out of a triangle pattern with Cameco on pace for its highest monthly close since February of 2011. Lower PPO indicator is in the process of a bullish cross of the green PPO line above its purple signal line. Both of these lines trending above the 0 level indicates that the overall momentum behind price is bullish, and with the bullish cross of the two lines it means that the short-term momentum is shifting back to positive as well. Lower TDI indicator shows the green RSI line back in the upper half of the Bolling Bands which indicates a shift back to positive price trend. The green RSI above 60 indicates that the bullish trend is increasing, and as long as the green RSI continues to trend between the 40-80 levels going forward the longer trend behind price will be considered bullish. This is from the Cardwell RSI strategy which is one of the best methods for reading the RSI if you aren't already a fan of the Cardwell RSI. Cardwell RSI: youtu.be The nuclear movement has a fan in Oliver Stone who recently created and released a documentary about the need for nuclear power: www.nuclearnowfilm.com
NYSE:CCJLong
by PrepForProfit
GDX: Will you make it? 💪This is what we ask GDX regarding our primary scenario. The ETF has shown momentum in both directions: upward and downward. However, we expect the bulls to win this fight, pushing GDX above the resistance at $32.58 and into the turquoise zone between $33.93 and $35.57. There it should finish wave ii in turquoise and turn southward again, heading back below $32.58. However, our secondary scenario shouldn’t be disregarded! There is a 40% chance for the bears to triumph. In that case, we would have to wait for wave alt.(5) in yellow to expand first, which would then include a new low.
AMEX:GDX
by MarketIntel
Pan American Silver: Resurfacing? 🤿After it had initially been dragged back to the bottom of the blue zone between $13.94 and $21.88, Pan American Silver is currently taking another whack at resurfacing from its depths. By now, the course has managed to establish a new high since the end of wave (ii) in blue and should continue the ascent. We expect the share to leave the blue zone on the northern side, heading for the resistance at $40.11, which should be conquered in due time. However, there is still a 48% chance that Pan American Silver could slip out of the blue zone and drop below the support at $10.61, thus initiating further downwards movement below the next mark at $5.38.
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by MarketIntel
Fresnillo: Easter Egg Hunt 🥚🐣🐰Has Fresnillo gotten lost, hunting for Easter eggs? We don’t think so! We rather understand the share to be swerving, interspersing its way with a little counter movement. Soon, the course should return to the main path and fall below both the supports at GBP 610 and GBP 456.60 to continue the descent. However, a 30% chance remains for Fresnillo to make a more extensive detour. In that case, the share would climb above the resistance at GBP 997 to develop wave alt.B in turquoise in the turquoise zone between GBP 1086.00 and GBP 1292.50 first before heading downwards again.
LSE:FRES
by MarketIntel