Seabridge bottomed earlier than many miners. So far it topped at the 100% extension (log-scale). That has me concerned as it would normally count as the (3) of P3. I've annotated it as an extended (1) of P3 instead since the retrace is too deep for a 4th wave, imo. That'll extend targets for (3) and P3 beyond normal expectations, but that's not entirely unreasonable for metal-related stocks.
What has me concerned is that the 100% extension is also a typical A=C target in a corrective move...see red oval.
Getting close to the lower end of retrace support, and may wind up stopping me out.
What has me concerned is that the 100% extension is also a typical A=C target in a corrective move...see red oval.
Getting close to the lower end of retrace support, and may wind up stopping me out.
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