IAG - IAMGOLD - One More Drop Before Reversal

HI, This is PRELIMINARY spoiler idea before I will do my main idea on IAMGOLD long term investment. I believe there will be one more leg down in IAMGOLD and many other miners as well before the whole sector turns upward for new long term trend.

The move indicated with red arrow is a last leg of overall BAMM (Bat Action Magnet Move) that was triggered by breaking B point of POTENTIAL Bullish Bat pattern.

My advise to those lucky guys who rides this nice recent bounce is to take profit or hedge their position.

Good luck!

Commentaire:

"Unfinished business" - that is what I see from IAG chart. We going to check the lows one more time. Harmonic analysis and Elliott waves count agreeing on that.