In a series of ascending wedges...green line represents the long average. I think we hit the end of the current triangle and with no gold news, continue in this .225 - .27 range. If gold gains some traction, along with the recent deal with backing from Palisades (that the market seems to have mixed feelings about), we could see GG pushing back into the .32 range.
Working towards the recent highs will still take some work. I think the market went crazy for a minute with a bunch of sky is falling short term investors. This is the cooling period, shake out the stupid money that thought they were going to be millionaires based on a reddit post and then get back to realistic long growth.
Working towards the recent highs will still take some work. I think the market went crazy for a minute with a bunch of sky is falling short term investors. This is the cooling period, shake out the stupid money that thought they were going to be millionaires based on a reddit post and then get back to realistic long growth.
Comment:
bah...soft gold, strange deals...GG lagging a bit behind. Recent acquisition in New Mexico gives them some depth that wasn't there before but it's a long way from a proven asset (to them) and market is saying so. We have lots of paper to chew up before we see .40 again. Still long and still waiting for gold...but I guess for now GG is going to have disfunction for awhile. If we break .18 it will trip my hard stop.
Comment:
lower highs...lower lows...the daily doesn't look good