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Charts from the Lunatic Fringe.

louky

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Still valid at 61.8, if today is rejection day, that will be a Lower High. Need 2700 break to set up for LL
 
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louky

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I almost never look at a silver chart, all that matters is box levels...kitco tracker works fine.....

....BUT, here's visual representation of what was going through my head on yesterday's action versus most everyone else who naturally becomes bullish

Beware/manage risk....my thought



Nothing to see here whistle:


 

louky

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Barrick gold (ABX) has been leading this move down in the gold shares. However, it looks as if it put in a classic reversal on Thursday. Capitulation - very oversold, huge volume, and nice bullish hammer candlestick. The follow-through on Friday was weak, but it's still early.

View attachment 100243
Looks like it bottomed 11.07? One possibility for optimism, 2015 it hit low about 4-5 months before GDX




From the "what gold stock to buy" thread way back then....
Barrick up the same. Stick with the big boys, probably US or Canada based and I don't see how you can go wrong. ABX was trading for under 6 bucks yesterday, lowest since the late 80's according to this fancy chart I'm looking at. You're basically placing a bet they won't fold after all these years of operation at that price. Otherwise there's no where to go but up.



GDX finally bottomed end of January 2016




This is what I was referring to a week or so ago as well

What's going through my mind hasnt changed. Miners went to 23 gdx and back dowm like i posted a month (?) ago. Current action is BS range, short covering, not impulsive move. That's it. Date with lower BB is still planned. Individual miners won't change my mind, they can just manipulate other ones in the basket to meet desired results.
 
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louky

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1305, pivot to upper box. bottom of upper box 1359 is hardest of all to hold. once it's support, jelly target becomes a possibility



never changes
Full Box
1269
1278
1287
1296

Above that would be 1305, but lets not get ahead of ourselves

1300 irrelevant




above 1305 bullish, below bearish. can't be any more simple here

1305 is pivot to upper box

big divergence, so if pivot back below 1305, the drop probably won't be shallow.
Below 1305, this year's december trade is over
Gold uptrend broken, lower 1300's, 1305 a fairly safe bet at this point, maybe top of box 1296, but still no targets
1305 needs to remain support. Losing 1296 should trigger the puking camel
1305 pivot and dancing around it. if that goes wonder what happens?

gold, looks like the pop was a bearish overthrow of the wedge as suspected. below 1320, then top of lower box may be in play. bulls don't want to see 1305 support lost, of course

 
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louky

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Jelly see's it :)



posted this for fun in sept 2016. of course no one can predict the exact path. as stated then, the only point was if it feels like a low at that time you can buy and make money (or if it feels like a high, sell).











as you can see below, if you bought/sold so far at the lows/highs, you've been banking with ugld or vehicle of choice.

i wonder if the time frames suddenly change now after 1.5 years? have a look and compare where we are at now with feb/march/april 18 between the two.....








i wonder if the time frames suddenly change now after 1.5 years? have a look and compare where we are at now with feb/march/april 18 between the two.....
 
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louky

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I'm really skepical on gold, will have to see what happens 1368-1377. Appears they may just be getting everyone bullish before pulling the rug again
 
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jelly

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We really need to get a reversal in gold, or atleast have the mining shares hold up today for me to have hope for this rally to continue.