Isarmina pointed out weeks ago that the platinum miners were doing very well. The uranium miners are clearly in the bull market we all wish the gold miners were…
Hi Marcus. I sell resistance and buy support. If you put GDXJ in a one hour line chart from the Aug highs you can see we hit the top of the 7 month downtrend channel at $49. This is the 8th time we have hit that resistance line. I am publishing this because that trend channel is getting a bit old to still be useful. I hope that helps.
Channel charts are great, buy or sell.
That is one thing my software won’t do well, and I really wish it did.
Tough call here imo. Could see an extended PM bounce. Weeks or more.
Behind the scenes, I called for a $ top about two weeks ago.
Last week’s high didn’t register as such at the time.
But today’s drop IS now showing on my charts as the first confirmation of a trend decline.
And if it is … it will last a few MONTHS.
At this juncture UUP is still officially in a bull regime, so a bit more confirmation may be needed to declare it over (and just a bear flag w4 now completed).
Not much of a rally.
Hi Noman. Could you explain a bit more your rationale for selling?
Isarmina pointed out weeks ago that the platinum miners were doing very well. The uranium miners are clearly in the bull market we all wish the gold miners were…
Hi Marcus. I sell resistance and buy support. If you put GDXJ in a one hour line chart from the Aug highs you can see we hit the top of the 7 month downtrend channel at $49. This is the 8th time we have hit that resistance line. I am publishing this because that trend channel is getting a bit old to still be useful. I hope that helps.
Thanks. That makes your position clearer.
Channel charts are great, buy or sell.
That is one thing my software won’t do well, and I really wish it did.
Tough call here imo. Could see an extended PM bounce. Weeks or more.
Behind the scenes, I called for a $ top about two weeks ago.
Last week’s high didn’t register as such at the time.
But today’s drop IS now showing on my charts as the first confirmation of a trend decline.
And if it is … it will last a few MONTHS.
At this juncture UUP is still officially in a bull regime, so a bit more confirmation may be needed to declare it over (and just a bear flag w4 now completed).