Just a heads-up that gold miners are quite close to their price gaps, which could represent key resistance.
Miners Under Gaps
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Softie Gap Fill
One would have never guessed that a price gap this large and left this far in the dust would be filled, but there you have it: it had to lose nearly 30% of its value to get there, but it did so:
Gaps Filled
Well, the futures were off to an exciting start at first, with the /NQ plunging nearly three hundred points. Yet now, not even two hours into the session, with have a green /RTY, a green /YM, and an /ES down as of this moment a few hundredths of a single percent. Some crash, eh?
I just wanted to do a very quick post showing how the gaps were swiftly filled. They were actually filled to the PENNY, which was picture perfect for a few minutes, but since then prices have even pushed above the gaps (but, so far, only by a little bit).
Swatted a Fly
This all the mayhem around rocket stocks, I was tempted to short Firefly Aerospace (FLY) last week based on nothing but its price gap. I confess, I just couldn’t get up the courage. What a shame! Look at that hard reversal.
The Rivian Gap
My RIVN long is doing dandy, but I wanted to at least give a heads-up to an important resistance point in the form of a price gap formed between the last day of 2023 and the first day of 2024 at $23.10. To me, that seems like a good price target (or just below it).
