Re log and linear I use both. My preference is generally linear, but sometimes the range we need on the chart is just too much to make it visually work on linear. All short term I usually do on linear.
As you know we use log and linear both in the engineering world. For same reasons. But jimho to correlate something on a long term log chart is a bit questionable. Kind of like driving down a super wide hi way drunk and yet say I remained between the two ditches. Mother of necessity at times however, in both cases.
Yes if gold decidedly broke the trendlines, preferable both on the chart I used, it would be meaningful to me. And silver to break the last high, around 30.5.
None of the stocks I am following for LT buys have busted out, still in downward channels. Until they are not. So I watch em.
Here is my wave on GOLD. A major indicator stock maybe. Not really interested in it, prefer juniors. GOLD did a Big 1 up, the XAU and HUI did not, the latter imo both completed a Big IV up. GOLD leads, and it should lead I think.
And then there is NEM, an especially interesting chart.
Wave charts are always subject to change. And yes it is puzzling to me as well as to why many of the miners are still so beaten down, with gold near 2000.
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GOLD, fairly classical wave pattern, as usual with question marks. The 7 to 8 year time cycle is fairly prominent as well, appears one dead ahead in 2023 plus, unless it occurred early in 2022? If it is in a C down I would think it will bottom coincident with indice bottoms.
NEM. A hard one to get very precise on so I did not label it. Looks a bit toppy to me, so watching it closely. I do believe in leading diagonals, which are a 12345 triangle pattern to a top. Not saying this is what it is, just filed it away as a possibility.
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