RE:Sprott:”the pain is almost over” PENNANT convergance: Higher low's & Higher highs are the technicals of the Flag the connvergense factor is that buying pressure is contained at higher levels over past history of price. It is considered a "true" tool by many, or that Pennant is showing strong interest to uphold the Price Value level. It is a favorate technical signal and another such signal exists relative which is a strong tech signal with GOLD. It occurs when market continuously buys GOLD back up to a LIP configeration and then jutts out to build a handle on the rim of the established cup. For myself they are Technicals that are telling of a foreboding event that indicates an event of return to higher levels of this commodity, "GOLD".
IMO they are very foreboeding signals, the event may not occur on the next days trading but strongly have the power of justification to expect the event will be a rise.
Question remains: Will the signal be an event in a Bear market or in a strong Bull market. I go with the Strong Mkt as that is when buyers are spending. Bears will sell at a loss just to protect them from more downsides. Of the TWO signals mentioned here, for myself it seems to me that the pennant is stronger indicater in the present Mkt. The ccp-covid Mkt.