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The unfolding upmove in gold

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#231 senorBS

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Posted 11 June 2019 - 09:55 AM

 

well if the second wave ii is done which I think there is a very solid chance of, then a wave iii of 3 should lie dead ahead, no excuses "if" this is the correct count, metals/miners should blast well, well above recent highs, we see

 

Senor

Yep

 

si amigo, this IMO is about as good as it gets IMO, buy here, put a stop perhaps a bit below the session lows and see what happens, as always DYODD

 

Senor



#232 senorBS

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Posted 11 June 2019 - 11:02 AM

GSR breaking new highs.  WOW

Did some very interesting SILJ/HUI ratio analysis this morning when it registered its lowest intraday reading since the decline from the 2016 top. That ratio right now is more oversold daily and weekly then at the 2016 bottom, the daily divergences are HUGELY coiled at  a HUGE extreme oversold area. In 2016 it was about the last thing to bottom and that occurred about 2 weeks after the SILJ major bottom on the Jan 20, 2016 low, well guess what folks today is about 2 weeks from the May 29th SILJ major bottom. So will history repeat itself and will the vastly underperforming silver sector finally start outperforming as it did in early 2016? And we just made new GSR highs above 90 and that is so far reversing fairly significantly today. I like this comparison quite a bit. As always DYODD

 

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#233 senorBS

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Posted 12 June 2019 - 08:07 AM

 

GSR breaking new highs.  WOW

Did some very interesting SILJ/HUI ratio analysis this morning when it registered its lowest intraday reading since the decline from the 2016 top. That ratio right now is more oversold daily and weekly then at the 2016 bottom, the daily divergences are HUGELY coiled at  a HUGE extreme oversold area. In 2016 it was about the last thing to bottom and that occurred about 2 weeks after the SILJ major bottom on the Jan 20, 2016 low, well guess what folks today is about 2 weeks from the May 29th SILJ major bottom. So will history repeat itself and will the vastly underperforming silver sector finally start outperforming as it did in early 2016? And we just made new GSR highs above 90 and that is so far reversing fairly significantly today. I like this comparison quite a bit. As always DYODD

 

Senor

 

nice day and close for SILJ and the SILJ/HUI ratio yesterday which intraday hit the lowest level since its top in 2016. IMO "if" the metals sector is ready for a big up move SILJ (silver miner sector) is very likely to outperform given the blown out/oversold ratio charts.My two cents

 

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#234 Smithy

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Posted 12 June 2019 - 08:53 AM

HUI-SILJ.jpg



#235 Smithy

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Posted 12 June 2019 - 09:06 AM

SILJ is my largest holding.



#236 senorBS

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Posted 12 June 2019 - 10:36 AM

HUI-SILJ.jpg

Great chart and it looks WAY BETTER with RSI divergences shown at the most extreme oversold levels - IMO the action since the late 2016 high is a very large and deep correction of the 2016 rally, if correct buckle up! yes.gif

 

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