To: Goose94 who wrote (11784 ) 2/23/2015 2:00:42 PM From: Goose94 Read Replies (1) | Respond to Gold Price Cycle UpdateGOLD DAILY- We are increasingly oversold on the slow stochastics (very top indicator), which should lead to a bottom. However, the long-term slow stochastics is yet to reach oversold. In late March of last year, those indicators were in a similar alignment, leading to a bounce up in price and then a slow grind down into the weekly cycle low. Technically, Gold hasn’t breached the previous low of $1,197.20, meaning a close above $1,214.00 or so would give us a confirmed low. Any bounce we get should be contained by the 200 day moving average (currently @ $1,250.24).SILVER DAILY- As with Gold any move higher should be contained by the 200 day moving average, silver did, however, make a slightly lower low on Friday. As it heads lower over the next few weeks, it too should hold above its previous weekly cycle low of $14.15.GDX DAILY- There are just a couple things to point out regarding GDX. First, A little positive divergence has been building over the last two weeks and second, the low from two days ago is holding for now.RIC MONTHLY - Richmont mines has been up over 300% since its November bottom. I would like to look into the fundamentals as to why they are so severally outperforming. If/when they pull back it might be an attractive gold mining play.******** Pierce Wellington
