This is monthly chart. I wanted to look at the 50k ft view here to see the trend. I think its pretty obvious where this is going. We cleared the resistance level of .90 cents this week. I would not be surprised to see a retest of .90 as the new floor but it can just keep running higher. I am targeting 2.50 level as a major support area. There is also support here at 1.18 level that we can hit some resistance at too. It is very early to be involved in juniors and the big money has yet to see this trend which is emerging. I dont see gold taking a massive hit at this 1800 level. But who knows as they did try this past week to knock it down and there was plenty of buy support to bring it back up. This company is in production now and is producing gold now. Its under a buck still and is a great buy even at these levels. I dont think it will be too long before we take out the old highs of 9.10 in may of 2006. The catalysts are many for this stock with financing being a huge catalyst which is around the corner. They are in production and producing, and the price of gold at these levels is fantastic for their margins. Algos are great at recognizing trends and momentum. Then they will push the momentum which feeds on itself. I say get your positions in now, because once that happens its gonna be alot more expensive to buy in. Its still way under the radar at this price. The last point i will make about this company is the management. Jim Sinclair was considered one of the largest gold traders in the world. He has been around and has seen many markets and he is managing a mining company and pulling the metal out of the ground. Why is he managing and invested in gold mining vs trading the metals? I think thats a question worth thinking about...
Pivotaltrader
Pivotaltrader