An NFTRH subscriber asked and I provide. Simple.
Last week we really firmed up the initial upside target for the sector (HUI). That was due to its daily chart pattern marrying up with the monthly chart objective we’ve had in play for the better part of a year now.
I created new, cleaner miner charts in NFTRH 600 last weekend, and while we’ll be adding others I only focused on those I currently hold due to time constraints. I don’t hold BTG but for those who have interest it is doing something similar to several other miners in that it has broken to a new high for the cycle and established an upside target of its own.
Daily trends are up (SMA 50 & SMA 200), it’s getting overbought but not yet hysterically so by RSI, MACD and AROON are positive and it’s just a really nice picture. Downside volatility that is sure to come in the gold stocks (BTG included) and those should be good buying opportunities at key levels. Support is noted here for BTG at the initial break from the daily bull flag. The problem being that the move was impulsive and that level may not be revisited for a while.
The weekly chart shows a long base from which this stock broke to its new highs, got hammered with everything else in March and then did its slingshot to completely obliterate the 2016 high. Editorial comment: unlike that over-hyped, over-played 2016 event impaired too quickly by other inflation trades, this event comes under cover of a deflation scare, just as the gold miners would want and right minded gold miner investors should want.
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