“Stunning Silver: Big C Wave Action”
Aug 6, 2020
Update & Tactics:
Our wave -iv- correction ended at the 22.46 low.
We are now rallying in wave -v- of (i), which could extend to the 35.00/36.00 level before it ends.
We now breaking through the 25.00/26.00 level, as we had previously suggested we would.
In the long term, our initial projection for the end of wave 3 is:
3 = 1.618(1) = 86.50!
In the very long-term we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993.
We are now working on wave V and within wave V we have the following count;
1 = 49.82;
2 = 11.64;
3 = First projection is 86.50.
Active Positions: Long using a put as a stop!
We love the action in the silver miners, and while our first target for SSR Mining near $34.29 is very close, we continue to recommend new investors take a position in key silver miners like SSR… because the silver C wave higher is really just beginning!
Update & Tactics:
We believe that all of wave -iv- is complete the 648.47 low and we are now rallying in wave -v- of .i.
We have now satisfied all of the minimum requirements for a completed wave -v- at the current high of 722.82, from an absolute price point of view, but it looks like that impulsive sequence is still not complete, so we see further gains ahead.
After wave -v- and .i. end we expect a more sizable correction in wave .ii., which should see a retracement of between 50 to 61.8% of the entire wave .i. rally.
Our minimum target for the end of wave C is 3341.56!
Buying of junior mining stocks is still recommended for long term holds, especially the GDXJ ETF and solid CDNX-listed miners.
Our next significant resistance for the GDXJ is the 70.00 level.
Active Positions: Heavily long the GDXJ and key CDNX miners, as a long-term hold!
Free Offer For Website Readers: Please send me an Email to firstname.lastname@example.org and I’ll send you our free “Road Map To $3000 and $5000 gold!” report. We highlight key wave counts for gold and lay out some impressive targets for GDX and the miners!
Captain Ewave & Crew
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