RIC…
Long standing positive divergence of 4 months…
Appears to be a “bullish wedge within a bullish wedge”…
I have seen this scenario play out before in various trading vehicles with an explosive upside…
Still need a turn to confirm anything…
GDX has the same larger wedge formation…
Considering a small position with a tight stop with a breach of the smaller wedge, and will add more once the price action gets above the 13 EMA…
Thanks Eagle I see the divergence but am being cautious here
This like all the PM Indices has just broke out of a small possible half way pattern
Would like to see the price breach that pattern and not just retest it and fill the gap
before looking long
Good luck
Thanks Eagle. I couldn’t resist not trying this. So far so good! How far above the 13 EMA would it need to be for you to increase position?
Daily close…
Got it. Thanks