Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.03

+2.1%

Jan 23 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jim McMannis who wrote (9914)	4/13/1998 3:34:00 PM
From: MtnBear	Read Replies (1) of 116916

Jim, here is my take: we are working off the congestion experienced after the downdraft in October '97. If our rally stays strong as you suggest, and we close strong above this congestion ~91 area, we are off to the races. However, if you consider that the "bottom" formation has somewhat the appearance of a large bullish triangle with the top horizontal line at 79-80, the conventional analysis could indicate a return to this line (or near it) before the blast off. I hope not, but this is certainly a potential scenario. Failure to hold there (at 79-80) would negate the entire bullish picture; this has been too strong a technical picture for me to believe that a failure is possible now (after the extended bear, etc), and with the renewed buying by the gold mutual funds experienced during the last week or so, this test may not happen. Just my thinking. Regards, Mtn Bear

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next