The usual then, March 16, 2016 or a good month ago, and now charts;
Sometimes the Gods do smile on the EWaver. This is a perfect example of the “diagonal”, the expanding type as the get wider as they progress. The structure is always a 3-3-3-3-3 and it does not have to reach the lower trend line at the end. It should reverse violently from that low point. The minimum target is invariable the base of the structure, in this case approximately $4, but obviously it could go a lot higher and perhaps even make new all time highs. But sticking to what we know for certain, $4 is the target and it should be reached, in the worst case, in a corrective a-b-c.
The c and a are almost equal. We are at the $4 level. It was a violent move. The RSI and MACD are showing extreme levels so this could be it. We simple do not know. Ashanti Gold, AU has the same pattern but still has two or three dollars to go up to reach it’s initial target of $19 or so. Similar patterns are all over the place, FVI, Fortuna is already making a new high. FCX, AU, ABX, PAA, K, XAU etc have either doubled or tripled so from here things are less certain or clear. The trend is your friend, unless, of course, you outstay your welcome.
Below is a chart of Fortuna. We are not sure what to make of it but things are back to normal very fast in some stocks;
