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Gold/Mining/Energy : Francisco Gold - FGX.V -- Ignore unavailable to you. Want to Upgrade?

To: Nexus who wrote (819)	5/13/2000 11:23:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 1907

Nexus, I agree. FGX charts is still bearish. The trend from the 1997 high is intact. However, we are approaching a reversal. I think. The trendlines that join the highs and the lows from 1997 form a triangle that is contracting rapidly. Resolution of this structure will occur within the next few months. Given the fundamentals, it is not hard to guess that it will be on the upside and soon. The 200 DMA has been above the upper trendline for months and slowly reversing its trend. The current price as well as the 50 DMA are now seriously testing this trendline and it looks like a breakout is possible soon. On the shorter term, we just closed a gap at $5.50. If this level holds and we move higher, I think the bottomed made a few weeks ago at $4.50 will be confirmed and a new trend will be on. This spike down below $5 was total capitulation. At worst, we may retest $5.15-$5.25 where strong support exists but I would be surprised if we get there. ormetal.com