newmont mining
0 responses | 0 likes
Started by bear - Jan. 31, 2021, 11:10 p.m.

looking at the very long term chart (40 yrs, going back to 1980),  i expected that it should hit 80 bucks.  this is the high back in 1987.  maybe even go just a little past it.  but then start a sideway correction for a few years.  

the long term pattern is an inverted H&S.  with the left shoulder from the late 80's, thru the early 90's.  a double head in 2001, and 2016.  then we are going to start working on the right shoulder for a few years now.  

you never know, with a H&S pattern if the right should will take as long as the left.  or will it end quicker, with a strong breakout?  in this case, i do not expect it to break down.  

i'm thinking we may get a trading range between 50 and 80 for 3 or 4 years, before we break higher.  

of course these patterns rarely play out the way we expect.  


Comments
No replies yet. Be the first!