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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.28

+3.8%

Nov 28 4:00 PM EST

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To: #Breeze who wrote (116102)	4/12/2024 5:03:27 PM
From: Perspective	of 116790

Thanks! Very hard to say if those channel lines are valid since the price points they're drawn from were entirely artificial based on government imposed prices. The explosion in price was probably dramatically overstated as a result. Perhaps the wiggle in 1975 represented some sort of "fair value." Projecting off that and through the center of the cup might give an idea of the present "fair value." I'll try to draw that up over the weekend. Just a quick glance at the channel formed by the 2001 low and the more recent lows gives us a resistance line up around $5650, climbing at an annual rate of about 8.9% per year, but those are very rough estimates.

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