Target Setting
Here is a count of Fortuna Silver. Most silver mines will probably bottom as the fifth wave of black B completes. There should then be a rally to red B to complete the black ABC pattern. The methods of setting a target are the projection of black C relative to black A and the overall Fib retracement of red B. I expect the low to be 4.17 so the target for black C becomes 6.22 where C=A. This is also the 38.2% retracement of red A. This is the minimum target. The expanded target is 7.48 which is close to the 61.8% retracement of red A. This is my maximum target.
thanks ranchida. your analysis on uranium a month ago helped me be ahead of the start of this hopeful move up
Glad to hear it. URG appears to be breaking out. There are several positive factors in play now. I will post the Fahy capital management book in a minute