AI
Elke,Study the details of this GDX chart...
its the best chart I can draw right now.
The Cartel extended their collapse one extra year.
The GDX collapse was ready to end in Fall of 2014. That low was around 16.20
The pivot low this year was also around 16.13. That was the real energetic bottom. The plunge to 12.50 was all extreme oversold. and in geometric terms, doesnt fit the picture. The geometric chart has these target points, but the wave structure was stretched out an extra year,and in this 2016 rally, has regained its target zone,and made up the lost distance,if that makes any sense.made up for the lost year of time. like returning to the 'mean' This looks like a wave 3 finishing here, and a wave 4 shallow pullback might be in progress,and wave 5 targets might stall out in the 27-30 area. the first major target in the greater pattern is the 32 Fib area. but if the current rally has finally peaked here around 26/27,and the weekly 200ma....the wave 2 pullback has these Fibonacci targets below.
This chart shows the Fibonacci geometric playing field.
its the best chart I can draw right now.
The Cartel extended their collapse one extra year.
The GDX collapse was ready to end in Fall of 2014. That low was around 16.20
The pivot low this year was also around 16.13. That was the real energetic bottom. The plunge to 12.50 was all extreme oversold. and in geometric terms, doesnt fit the picture. The geometric chart has these target points, but the wave structure was stretched out an extra year,and in this 2016 rally, has regained its target zone,and made up the lost distance,if that makes any sense.made up for the lost year of time. like returning to the 'mean' This looks like a wave 3 finishing here, and a wave 4 shallow pullback might be in progress,and wave 5 targets might stall out in the 27-30 area. the first major target in the greater pattern is the 32 Fib area. but if the current rally has finally peaked here around 26/27,and the weekly 200ma....the wave 2 pullback has these Fibonacci targets below.
This chart shows the Fibonacci geometric playing field.
