Chart - TA

I thought I will start a new thread on chart technicals to see how things pan out in the sector. I was intending to put up a few peers (loosely speaking) but decided to concentrate on DEG instead to avoid what others think is cross promotion.



The strong Uptrend is still very much intact as of today. Next week or any other future dates remains to be seen as my charts are limited to past and present. There are some who will be using forecasting strategies and tools to try and guesstimate how the SP will perform going forward like Elliot wave, Fibo time series, or even harmonic patterns, etc.

Recently in the red zone, price broke out of the wedge pattern or triangle to others depending on how those lines were drawn. I was anticipating the $1.41 to be at least tested from a momentum perspective but sadly it was a fakeout. It does appear that the CR ($1.20) level could be key in the direction of where price will be heading ST. Earlier, on 2 Nov as price broke down I was hoping it doesn't keep dropping to 'close the gap'.

Something I had just noticed is that the RSI 50 neutral level seems to correlate to this $1.20 level and currently it doesn't appear to have any momentum direction. Meanwhile over at the gold chart,
a little bit of support as price continues to dip below the support by the lower shadow. Unfortunately, if we keep getting all these probing of the support with no follow-through buying momentum, the price has a higher probability to break on the downside. Tonight in the US session when the 'real' gold trading takes place will be key to what happens to gold come Monday.

If one looks at the charts of the bigger peers and most are producers, DEG stands out for me with another that is even better from a trend perspective.

I wonder from a fundamental perspective if the potential size of  Hemi is keeping the market keener? One will never know the actual reason but size, grade and shallowness do matter for me. Good luck. Looking forward to any views including my wrong bias one.