Loading ...HUI Weekly – Looking for 20-25% Pullback
It’s still a really bullish picture but we may be in flag-building mode as we form a right shoulder, backtest EMAs, and chew through supply. The rest of the year could be frustrating to many PM/miner traders until perhaps after the Nov elections. The timing sure makes sense too. Again, I know this view is unpopular but to me it’s rational and unemotional. I refuse to take a 20-25% drawdown from here as prices are clearly at resistance and the odds favor some consolidation period from here. I’m braced for usual (but healthy) criticism 😉
That is a clincher Mark
The surprise would be a continued rise from here right now
No doubt
But this market has surprised just about everybody…bulls and bears
good chart Mark. Thank you for your insight
Looks like a perfect analogy to me.
When Tommy and Mark are on the same page…that carries a lot of weight with me
They aren’t died in the wool bears or bulls…they’re going with the flow and not getting attached to any outcome…just looking for the best opportunities to make some money!
98% if Goldtent Posters are two way analysts Carolynsue
These two noted plus Plunger, Spock, Graddhy, North, Eagle Seagle, Avi ,Surf City ,Norvast , and on and on
Just though I would point this out
Rarely is everybody on the same side however
We have credible Bull analysis and Credible Bear Analysis …take your pick