Wednesday, December 10, 2014
TWO CHARTS: First Majestic and First Majestic (wait, what?)
My opinion on looking at this chart: Yeah, it sucks. It's gotten up to its Bollinger mean, so that's a sensible place for it to turn around and go back down.
Now here's the Canadian ticker:
Spoooookily, it's already above its Bollinger mean here. Punching right through is actually bullish.
This seems significant to me. It means the recent US dollar moves have been large enough to cause distortions in the charts for the miners.
So Americans aren't getting the right price signals.
So this might be something the rest of the world can exploit.