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Gold/Mining/Energy : Gold Price Monitor
GDXJ 108.28-0.9%Dec 1 4:00 PM EST
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To: #Breeze who wrote (116101)4/12/2024 4:09:09 PM
From: Perspective1 Recommendation

Recommended By
Road Runner25

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Thanks!

I thought cups usually projected a gain that was equal to the depth of the cup.
Given that it's about a ten-fold range on the cup, it would project a ten-fold gain.

$42.40 * (42.40/3.60) = $499ish

That's about the ballpark where I was thinking even before pulling out any charts. A serious commodity bull could set new high watermarks about 10X the previous new high.

Doing the same exercise on gold I arrive at around $3450 though. Not sure if the gold:silver ratio would compress that much, so maybe that's too high.

-Robert
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