A Short Term bearish view for the Miners

We have been behaving in a top - mode, and the trend channel from June has been broken last Friday to the downside. If things unfold in a similar way to last August 2019 we could have some correction this week, maybe followed with some upside to make a king of a double top at the 66 level and then more correction...
I would pay attention to the 63 $ level, because there is a gap there. Gold could rise on Monday, so miners do fill the gap and then the fall can continue for the rest of the week. The possible downside target, could be 55-56$ (gold should fall around 1.850 $ during this week). It looks so far...but we've been there a few minutes ago in terms of gold history.

58$ is also important level.

Have a nice week and good luck.

コメント:

Typo...Gold downside target 1.950 -1920 $

コメント:

Fast & Furious....

コメント:

At this pace, maybe tomorrow or the next day we´ll see a bottom, an d may swing to long. Let see. I sold all my shorts positions today, but could be more drop.

コメント:

It's too early, but I expect that this correction will range between 48-49 and 60-62 until it ends with another up leg.
It´s a 28% correction from the top. They can be deeper in fact.
Lets wait and see.

コメント:

A small gap around 55$ filled. Methinks...up for a while (some days) before another down leg.

コメント:

I will update the idea this week, but I'm beginning to consider the possibility that the bull is alive and kicking. That would mean that we could have seen the bottom on miners (and gold) and would be preparing the soil for another up leg.

コメント:

One more comment, I think that we'll correct like past May, beginning of June. The Main Trend is intact. Unless is broken to the down side, the bullish case is here.