The current drop has many investors thinking that the long term correction in the miners is still ongoing. However, the current price movement is playing out more as a short term corrective wave (ii) of a larger degree wave 1 that should take us above $30 sometime this summer.
I am currently expecting a bottom to be reached somewhere above $20 before the resumption in the bull trend. While a drop below $18.60 would invalidate the count and have me reassess the outlined pattern, it looks less likely to play out at the moment.
I am currently expecting a bottom to be reached somewhere above $20 before the resumption in the bull trend. While a drop below $18.60 would invalidate the count and have me reassess the outlined pattern, it looks less likely to play out at the moment.
