NovaGold Resources Inc. (NG) -NYSE MKT Message Board

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Gold/Mining/Energy : NovaGold Resources Inc. (NG) -NYSE MKT

NG 8.945

+2.5%

3:59 PM EST

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To: The Ox who wrote (87)	8/11/2015 3:01:27 PM
From: bruwin	Read Replies (1) of 129

He does a weekly review on a local TV station ... his Gold commentary today was based on what he's observed in Gold markets outside SA, e.g.the FT Gold Index, Toronto Gold. Looking at the major Equity Market Indexes, he came up with ... AUSTRALIAN ASX200 = Sideways trend where previous support at about 5700 has now turned into resistance at about 5700. CAC 40 = Sideways trend with resistance at about 5200. DAX = Sideways trend with resistance at about 11800. S&P500 = Sideways trend with support at about 2050. DOW = Sideways trend with original support at about 17500. This has been broken 3 times recently and next support could be at about 17100. RUSSEL INDEX = Sideways trend with support at about 1210. Currently sitting exactly at that level. NASDAQ = Weekly chart in an overall rising trend but according to a TA's viewpoint, its last 18 months has shown a "Rising Wedge" which apparently often results in a downside break. Virtually all of the above Indexes had sell divergences in terms if their RSI's, etc. So his opinion is that there is no Bull Market on the go but rather that the top formations are showing a trend reversal forming in the Equity Markets.

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