I could absolutely be wrong, but I believe there is a good chance today’s gap in the miners will get filled in early November. In the meantime, HUI will probably test the top of its descending channel before the decline begins.
Also, that break away gap in June came after armageddon. This time, there are plenty of longs or people looking to get long and chase price.
Again, I would not bet on the gap fill, but I think there is very little chance the miners just runaway from here–although it will probably feel like it over the next 2-3 weeks as HUI will likely test the top of its descending channel.
For me it’s 50/50 whether that gap closes next month. On days like today, it’s easy to start dreaming. I absolutely would not worry about it if you are a long term holder.
Still unfilled…
That is my feeling as well Noman – also will want to see relative strength in the miners vs Gold/Silver on their next pullback
I could absolutely be wrong, but I believe there is a good chance today’s gap in the miners will get filled in early November. In the meantime, HUI will probably test the top of its descending channel before the decline begins.
Also, that break away gap in June came after armageddon. This time, there are plenty of longs or people looking to get long and chase price.
Again, I would not bet on the gap fill, but I think there is very little chance the miners just runaway from here–although it will probably feel like it over the next 2-3 weeks as HUI will likely test the top of its descending channel.
So far we have exceeded the June 22 launch in % terms but we don’t have the close yet on the volume
12 mil on the June 22
For me it’s 50/50 whether that gap closes next month. On days like today, it’s easy to start dreaming. I absolutely would not worry about it if you are a long term holder.
10.7 close
If we gap over the 60 resistance on Monday that could settle it.