Loading ...Backing and Filling (sung to the tune of “Waltzing Matilda”)
The backing and filling in the gold and silver market continues. The good news is the bottoms are in and the next and likely final buying opportunity should be this Tues. After that, the rally should begin and by the end of the first week in Feb. it is clear, blue skies ahead.
Based on what exactly? The H&S patterns are still valid until proven otherwise IMO
No valid H&S patterns for the metals. Maybe some stocks. None of the ones I watch, own or care about.
GDX, GDXJ, WPM, IAG, BTG, GOLD all have massive H&S. Most concerning is GDX & WPM. You still didn’t answer the question: Based on what? Can you post any TA, cycle analysis, anything to back up your claim? Not trying to be a dick but you can imagine my cynicism being around the space for 13 years.
PS-I would like to be wrong. I think a strong break above GDX 38.5 would invalidate the H&S
Maybe some of our difference of opinion comes from fact I don’t follow GDX or GLD?
If GDX breaks down from that H&S, it will spell doom for any part of the PM complex, sorry.
Look at the charts of gold and silver. Until they take out the November 30th lows(they won’t) I am rip roaring bullish. Even more so by silver’s chart which clearly shows a building inverse H&S bottom almost completed.
To further elaborate,again on silver, the right shoulder is completing a super bullish inverse H&S. Much like when a cup and handle chart becomes even more bullish when the handle is another cup and handle, The silver chart is an inverse H&S with the right shoulder forming another inverse H&S. CAN”T GET ANY MORE BULLISH THAN THAT!
Makes sense, I have been watching the silver chart and noticing this too. More color in the future in why you are bullish instead of just the bottom is inzzzz would be helpful.
I am bullish because the charts are bullish. The fact that the fundamentals support the bullish case is that much better.
Some charts are absolutely not bullish, so that’s my challenge. Some are bullish. Perhaps we see a metals up, miners down thing due to a global shut down.
“I am bullish because the charts are bullish.”
Everywhere I look, the world appears upside down.
You are no exception.
Once again the Clueless Troll surfaces a day late and a dollar short. Stupid comments, contributing nothing to an intelligent conversation between Silverhawk and myself. You still continue to troll but never post anything of your own. Why don’t you just hang out on twitter?