WSB/potentIal PM sQuEEze, page-403

The problem with TA is that agender driven people can pick and choose whatever amount of information they wish to display on a chart as a means of ensuring it meets their biased agender. Skol with his/her post is an excellent example of such a person.

Looking at a weekly chart of BML, Gold and Silver and from a purely technical view point I also looked at the price chart of TLT to get the big picture. Having done this exercise I have noted the following in no specific order of merit;

1. Gold & TLT topped on Aug 8th 2020 and have been trending lower ever since.
2. TLT has put in two key reversal bars over the last two trading days on the heaviest volume since March 2020.
3. Gold very close to the $1650- $1700 support zone. I would like to see one big sell off and a key reversal candle similar to TLT to confirm a bottom.
4. Silver, still ultra bullish building an ascending triangle with resistance at $30. Target on breakout is $36.
5. TLT and Gold are highly correlated. The TLT key reversal on the daily chart and a hammer on the weekly chart at a major support zone potentially signalling that Gold is close to some sort of a bottom.
6. Basel III regulations implementation commences from June 29th 2021 and all unallocated Gold being moved to allocated to ensure compliance. (Gold & silver bullish)
7. BML has very strong support zone between 37.5c and 40c going back to July 2016.
8. 40c support zone was the breakout level of a saucer pattern (or W pattern if you prefer) in BML that had a target of 75c which was hit. (40c top to 5c bottom = 35c), add to 40c breakout zone = 75c
9. The price retracement to 40c appears to be re-testing the breakout.
10. BML market cap is $61M. EV is $46M after deducting $15M cash.
11. Risk/Reward, 4c downside with a possible 35c plus upside! That is risk $1 to make $9. Outstanding Risk/Reward equation in anyone's books.