Loading ...ABX.TO and AEM.TO – Daily, Weekly
ABX.to advanced from its 2 year low in the opening days of March, completed a 4 point rectangle consolidation in May & June, broke out topside on good volume, and appears to be in the process of back testing the break out. Looks like a solid buy.
ABX.TO – Daily
ABX.to broke out of a falling channel on the weekly chart. It is challenging the 30 day EMA.
ABX.TO Weekly
AEM.TO – Daily (Bullish)
AEM.TO Weekly (Bullish)
The big boys, the producers, are moving on up and out. The speculative junior explorers not so much – unless really good drill results.
Thanks silver fox – now for the cycles perspective…
ABX.TO hosted a DCL 06 Jun and then headed higher to host a DCH 04 Jul on calendar day 28 and is now headed lower into it’s next DCL
ABX.TO cycles on average around 42 calendar days low-low so we can expect the next DCL around 16-18 Jul
Mid Jul would be in week 20
The last 2 weekly cycles have been long so there is some chance this next DCL may also be an ICL
What interests me is that it is headed lower into a DCL at the same time gold is headed higher from an apparent ICL.
Something not quite right?
Thanks norvast for the cycle perspective. Will follow that along.
It would be a shame to see ABX do more than a hard back test to that beautiful flag. The technicals are so pretty. Of course on the NYSE the ABX chart isn’t nearly so crisp. Currency differences.
Your “Something not quite right?” has me on alert. Is there a snake in the grass? Ought we be concerned? I guess we’ll see.
Well the “snake in the grass” is I suspect, a back-test of the USD, maybe coinciding with an early half cycle correction for gold.
The AUD and CHF have both moved positively out of their lows and appear to have confirmed their respective ICL and DCL.
I certainly know that I am holding off buying the AUS miners until they host a DCL, which I do not expect for at least another week.