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- Last Update: 21 June 2021, 9:11
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Categories:Volume Analysis
Trend Analysis
Fibonacci Studies
My system is based on that of Tom O%27Brien of TFNN.com using price and volume correlation to establish the stability of trends and Fibonacci ABC patterns in particular to establish target prices, or in some cases, high volume swing highs as upside targets.
Copper has surpassed its 2011 Swing High with massively higher volume. I%27ll stay with it until a top forms. Trading FCX and SCCO with this as a reference. June price drop has higher than desirable volume for the first (abbreviated) week of the month)
The break of that major upper trendline of the channel is highly significant. The next upside target should be the Swing High of 1962.
The break of that major upper trendline of the channel is highly significant. The next upside target should be the Swing High of 1962. I always expect 0.618 Fibonacci retracements for gold and its miners%27 stocks -- that%27s just what we got the first week of June.
Not sure why I%27m watching this. Give it time.
Do you trust these people to mint no more coins? Really? Looks like a classic pump-and-dump.
The purpose of this ratio is to see if gold mining stocks will continue to out-perform the price of gold, the metal. Currently operating mines are set up to profit from gold as a lower price than currently exists.
See the monthly chart for LT trend.
Retest of ice at 72 failed, but the retest at the breakout level of about 70 appears to be holding despite higher volume for the test.
Has run up way too much lately but watching for an entry for a trade in June or later. A weak week to begin June could be a good start.
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