The shoulder seems to be forming into a more pronounced shoulder with several buy signals kicking in since Friday morning when I made quick post here at the bottom.
The Chinese market will be back open after their Golden Week holidays last week. IMHO, I think we could see more positive action from them, coupled with a continued bearish US$ resulting in more positive action for the Materials sector and companies like AGO.
We might not go up in a straight line but $1.60 and $1.80 shortly and even $2.00 by Christmas could be done in m eyes.
For other good reading see these guys on the XJO thread:
Paddington Bear
Redbacka
My more detailed tidbits are within the charts below.
Shonan Trader
AGO Daily
AGO Other Daily![]()
AGO Weekly
China Weekly – Note my error with the word ‘Monthly’ instead of 'Weekly' in the comments.
China Monthly
US$ Monthly
PS. For the newer HC members of our community, FYI below:
Bullish for Stocks/Commodities
- Falling US$
- Rising EURO vs. US$
- Rising Commodity Channel Index (CCI)
- Falling VIX
- XSO (Australian Small Ords Index – Often ahead of the trend)
Other Useful Links to help with some T/A Jargon:
Stochastic Oscillator (A.K.A. Stochastics. Stochs)
MACD
MACD and Stochastic Crossover
New York Advance/Decline Line
Commodity Channel Index (CCI)
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