Loading ...ABX : Dueling Head and Shoulders Patterns
ABX ( World’s Largest Gold miner) has been leading the pack since the beginning of this year
It went on a Magical Run from $6 to almost $24 (300%)
Earlier I posted the daily linear chart and called it The Elephant is IN the Room
You must admit this is a very scary chart
However Tonite I had a look at a Weekly Log Chart…and here is what I see
A Perfect inverse H and S complete with neckline symmetry….Do the math !
Time is more important right now. The time is about now, for the completion of a normal hard correction after a first leg up, out of a generational bear market. The clock is ticking for the bears. They are running out of time to prove it. Lost of talk now but no action.
What we should be looking for in individual rocks, like the NST.A chart I posted earlier, is a final flush of the long stops. NST.A is at that place and time right now. Took at the last major low, now reversing. Others will be ahead and others behind this same scenario.
Any breakdown now should be bought.
From what I’m looking at (yen, euro & 10Y), I think if Trump doesn’t win you’re right – The entire PM bull move from this year will be largely wiped out and gold will drop back to ~ $1200.
Bull move in the miners I mean.