Saturday, December 03, 2016 3:22:38 AM
Happy to contribute,JD...
The story must be great for Northern Dynasty to be acting like such an outlier in the mining sector.
Its totally taken off in the upward direction... I just don't know what to make of the momentum. Is this going to be like First Majestic and come crashing down, is my concern. I get very nervous about miners that seem to get momo pumped up in a big bubble.
The chart I showed,comes from a Fibonacci Geometric and math construction...so the targets are there to weave the picture .and the first thing it shows is that the 1.50 area is a Fibonacci Topping zone. . at the same time there are a few cycles playing out simultaneously, and IF the price action does hit resistance around the 1.50 area....and IF the 1 dollar area can hold as a shallow pullback support zone...then there could continue another rally on top of this one. it would move the wave pattern into a new cycle,and its great to see but dangerous at the same time when the super rally topping zone gets too far ahead of itself, with full value baked in ,as they say. just like what happened to AG this summer.
I think it would take a lot of courage to start buying it at this topping zone. But I really don't know anything about the fundamental mining story.
What concerns me as well, is I'm seeing the mining sector and metals continuing to be Manipulated and rigged like they have been these last 5 years.
Despite the great looking rally in 2016...its being followed by a giant downwave taking miners back down, and the metals too.
That's also why I would be nervous about Any miners like this one that are not following along with the Cartel take down. I fear this one will get its next 50% haircut again, like it got before.
Here's Great Panther... also making a rally here, but there is a Resistance Target zone around 1.75-1.80
The story must be great for Northern Dynasty to be acting like such an outlier in the mining sector.
Its totally taken off in the upward direction... I just don't know what to make of the momentum. Is this going to be like First Majestic and come crashing down, is my concern. I get very nervous about miners that seem to get momo pumped up in a big bubble.
The chart I showed,comes from a Fibonacci Geometric and math construction...so the targets are there to weave the picture .and the first thing it shows is that the 1.50 area is a Fibonacci Topping zone. . at the same time there are a few cycles playing out simultaneously, and IF the price action does hit resistance around the 1.50 area....and IF the 1 dollar area can hold as a shallow pullback support zone...then there could continue another rally on top of this one. it would move the wave pattern into a new cycle,and its great to see but dangerous at the same time when the super rally topping zone gets too far ahead of itself, with full value baked in ,as they say. just like what happened to AG this summer.
I think it would take a lot of courage to start buying it at this topping zone. But I really don't know anything about the fundamental mining story.
What concerns me as well, is I'm seeing the mining sector and metals continuing to be Manipulated and rigged like they have been these last 5 years.
Despite the great looking rally in 2016...its being followed by a giant downwave taking miners back down, and the metals too.
That's also why I would be nervous about Any miners like this one that are not following along with the Cartel take down. I fear this one will get its next 50% haircut again, like it got before.
Here's Great Panther... also making a rally here, but there is a Resistance Target zone around 1.75-1.80
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