89 replies to this topic

[gannman]

at this point i say let gdx trade above 24 would be good gld and slv breaking above resistance unless they fade at the end 

[gannman]

http://www.silver-ph...-gold-price-low

 

interesting article here

[gannman]

http://news.gold-eag...ustrate-you/832

 

this is an article by avi gilburt he thinks the 24 level needs to be taken out also basically nothing has changed

 

we need to see two strong up days in a row at least and a quick climb above 24 for me to get excited have a 

 

great day

[gannman]

i like the action here fwiw . we need follow thru and for gdx to get above 24 quickly  but todays action is def good so far 

 

so we see how we finish today and act on friday and monday

[gannman]

just perusing the charts here and i think from  sep 7 top we have been in the C wave of an abc correction

 

C i believe has completed wave i and wave 3 and we are probably in a wave 4 up now with a final wave v down to come

 

so i am thinking this correction ends in dec maybe around dec 6 or 7 wh7ich would be 89  or 90 days from sep 7e 3 

 

then we should take off like a rocket fwiw one thing to remember is after this long drawn out correction is over we are entering a wave 3 up

 

i could see gdx going to the 45 area but first lets see our final bottom come in which i believe is two to three weeks away 

[gannman]

dont lose hope dont lose heart the wait will be worth it 

[gannman]

and ai reasonable downside target for gdx  is 20.5  to 21.5

[dougie]

funny hadik has us up into that time frame I think (dec 8)

[gannman]

dougie right here i believe we are very very close to if we have not already bottomed as in a very significant bottom. just looking at the charts tonight 

 

you could say for the gdx the bottom could have come in nov 20 at 22.46 around 1 pm . if so then we should be straight up the 24 level is crucial 

 

for gdx at that point i would say gdx has bottomed. to me it is not a big deal here if we go back down then i dont think we are going very far down

 

now is the time to be patient this market will reveal itself over the next by the end of next week imho

[gannman]

this market will reveal itself by the end of next week