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Tanzanian Royalty Exploration Corp. Message Board

  • greglpet greglpet Mar 18, 2012 11:33 AM Flag

    Longs take Heart

    "Today's Mining Stocks and Precious Metals Market Comments

    Wave 4-down looks very close to a bottom. Prices have reached their downside target for the HUI, the bottom boundary of the declining triangle has been reached, and the fifth wave {e} down looks close to completion. There could be a small drop under the bottom boundary, however there is an excellent set-up now in place for a terrific rally to begin in Mining Stocks. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Friday, March 16th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching.

    Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them, however it is not unusual for the last wave of a triangle to truncate, not reach its expected boundary line if the coming wave is going to be powerful.

    Wave 5-up could consume all of the second quarter of 2012."

    Robert McHugh

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