The way we interpret what the various chart indicators are telling us, is subtly different, depending on whether we are in a bull market or bear market. In a bear market, an overstretched or overbought indicator serves as a likely prelude to a decline to new lows. Not so in a bull market.


So how are we looking today ?

You can argue about exactly where to place the cycle lows/highs, but you get the general idea from the next chart. It explains the backdrop to my overall, broadscale thinking. There are small, shorter cycles embedded within these ones, but they don’t form part of my personal game plan for the next 10 years or so. I plan to exit and re-enter all of my mining positions just once. I’ll be telling you when in due course. First I want to see how price behaves in the $1600-$1800 region in the next 18 months or so.