right now with this action i think gld is going a lot lower fwiw
what the hell, out on a limb. the 1850ish low marks the bottom of this correction. the next leg higher begins now
Started by
dharma
, Oct 21 2020 09:54 AM
1426 replies to this topic
#1271
gannman
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Posted 26 February 2021 - 11:22 AM
feeling mellow with the yellow metal
#1272
dharma
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Posted 26 February 2021 - 12:18 PM
dont like what i am seeing we have broken back into the last price cycle 1716, 1697, are support below that 1678,1659(is the death zone for this decline= should provide big support. 1735,1754,1773 is the end of this price cycle1793 breaks into the next higher price cycle. what i dont like is this is a breakdown which indicates confidence is lost and will take some time to build up. we have no momentum divergences indicating a bottom. so the bottoming process is yet to begin we are now oversold
dharma
27th is the full moon
Edited by dharma, 26 February 2021 - 12:26 PM.
#1273
dougie
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Posted 26 February 2021 - 01:21 PM
wow. even i thought this would take months
#1274
JGUITARSLIM
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Posted 26 February 2021 - 02:54 PM
Buying some GDX !
Will add on weakness.
#1275
dougie
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Posted 26 February 2021 - 03:27 PM
Buying some GDX !
Will add on weakness.
HUi supports that view
Edited by dougie, 26 February 2021 - 03:28 PM.
#1277
dougie
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Posted 26 February 2021 - 03:37 PM
guesing we now bounce around between 250 and 370 area on HUi for 3-12 months
#1278
dougie
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Posted 26 February 2021 - 03:57 PM
so who amongst us was trading on the short side the past month?
#1279
ryanoo
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Posted 26 February 2021 - 04:42 PM
Today is Full Moon and the last trading day of February.
Today looks either the bottom or GDX will see a LT breakout failure at around 31.
I've been out of miners for a while and no longer trade in PM.
Where will the rising yield stop? It looks like some sort of top too, hope so!
#1280
senorBS
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Posted 27 February 2021 - 07:55 PM
Buying some GDX !
Will add on weakness.
Looking for a several day (week maybe) bounce buy given the extent of the decline into Friday. I think after a decent bounce we could come down hard again for perhaps a final low, but this could take a while, just a best guess for now. Very oversold, from here we either crash for a few days and maybe put in a selling climax low or do the more usual and bounce and then set the stage for a bottom with perhaps another scary leg down. My bet is on the bounce scenario, we see
Senor
