Loading ...Positioning ahead of the SGE and HK Gold exchange physical mkt after July 24
Are we seeing a co-ordinated takedown on the COMEX for Gold and Silver so that shorts can be covered and THEY can go long?
At the same time, the miners will be picked up at a low valuation.
Any thoughts?
At this point it’s psychological. Silver will most likely stay above $50, but all the way down there will bring us back to the share price of most miners of the last quarter of last year. Shit.
Its difficult to tell Bounce Zones from Bottom Zones.
We’re nearing one or the other, again, on my weeklies.
Dialing out one more degree, confirmation comes (too late) on the slow sto’s.
Usually, the fast sto’s must turn up, at least.
They are still falling and not even in stall territory yet.
A lot of buying at $57, then it will churn sideways unfortunately. Just sell at each rise to $60s. Bummer.
I won’t short.
But I sold trading positions in Jan at my alert signal (price above 3sd bands).
So now its Structure (EW), or Psychology as you put it, since they are mirrors.