Though the price has recovered a bit, we are still far away from announcing the end of the correction. In contrary, there is plenty of room left on the downside. In total, we expect the course to drop below $13.01.
Pelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and adjacent to AngloGold...
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi Greenstone Gold Belt.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries.
The GDX was in close watch and it is time... Technicals are favourable for a bull run, and so is the broad equity market. Also had broken out of the Buy Zone!
GXC the China ETF is just about ripe based on technicals. Similarly, broad equity market drift should hold in supportm and the immediate gap should be closed for a run up.
Support at 37.21 was broken w/c 2nd August and then was retested w/c 31 August, and went down from there. A good example of support becoming resistance. Not good for the bulls and bearish for now. Also price is below the 200 EMA.
Gold is in wave 4 in the weekly time frame. Reform of US stocks increased the pressure on gold. Given the rigidity of a triangle such as wave B, one can expect the growth of gold to complete wave C of the triangle.
GDX... has been very disappointing of late, but patience is needed for this one.
Previously marked out bearish notes and downside target, plus Buy Zone. It is about there now, and looks to overshoot to the target nearer to 28.
Be patient... be ready too.
Q: What has the highest probability of occurring?
In 2021 gold has been rotating between $1900 and $1700 per ounce.
While a variety of classic patterns have either formed or attempted to form throughout the year there appears to be a broader attempt at a double bottom in 2021.
The double bottom, having recently tested and rejected 1700, would need to breakout...
This index is breaking down after showing bearish divergence and having a false bullish breakout on the Daily and Weekly.
Based off this and the weakness we're seeing in the commodities themselves i expect the prices of Precious metals to begin a new downtrend in the coming weeks and for the price of Thongs such as Wheat and Soy to have a major decline.
These two ETFs are of some interest as they have been beaten down rather hard of late. More downside risk prevail, but just markign out the potential buy zones to look out for over the next few weeks.
Let us see how this pans out...
XAU/USD – Weekly
What a week! $1670 held again as support during the Monday morning flash crash (which was most probably driven by a large liquidation). The weekly candle looks ugly but in terms of the range and support level I talked about last month there is not big change in the bigger picture. For the patient traders who work with limit orders it was a good...
Now they have achieved commercial production and in an environment of rising gold prices, the PUR stock price is looking to breakout of a downward pointing wedge technical pattern.
This is a good buying opportunity.