IAG-5-29-19

IAG - nice looking LONG setup

IAMGOLD Corporation (IAMGOLD)  is a mid-tier mining company with approximately four operating gold mines on over three continents. The Company’s gold mine segment is divided into geographic segments, such as Burkina Faso – Essakane mine; Suriname-Rosebel mine; Canada-Doyon division. Total attributable Proven and Probable gold Reserves increased by 23% to 17.9 million ounces at the end of 2018.

I have been watching IAG for several months. It played out a nice five wave up fractal off the low made at $1.15 on 21 July 2015 to the top at $5.87 in August 2016. Off that August 2015 top we got a corrective (A) down – ( B ) up – ( C ) down structure. 

IAG - Daily chart updated on 28 March 2019

The final wave ( C ) down should have an impulsive structure. That means it has to be subdivided into five waves. I can count all those five waves completed at this point. That means the corrective wave [ B ] down started at the August 2015 top is very close to completion. When it finds its bottom we may get another strong rally in wave [ C ] up that at least should make a higher high over the top of wave [ A ] up.

IAG - Daily chart updated on 29 May 2019

Start to Learn Now!

Subscribe to my video course
and learn to predict market moves

YouTube Channel

Subscribe to my
YouTube channel

Check My Latest Updates!

Check out
the recent updates

Login