Looking at one gold miner we could see a possible bottom is taking place. Gold miners *usually* go up for only a few reasons.
1) Price of gold is rising
2) They found what they were looking for
3) They found more than they were looking for
This bottoming structure is a symptom of #1
Original NGD analysis:
This stock has been very good to me
1) Price of gold is rising
2) They found what they were looking for
3) They found more than they were looking for
This bottoming structure is a symptom of #1
Original NGD analysis:
This stock has been very good to me
Trade active:
First entry layer filled yesterday at $2.31. Risk is on first layer is extremely asymmetric as any break in the trend line on the 2W timeframe would indicate a stop out (re-entry would/will be initiated if price returns above the trend line on the 2W timeframe).