Ive always like Eldorado gold. I feel it just needs the right set of circumstances to really blast off. Those are being met daily now. The chart is technically solid.
With gold rapidly increasing and more production at eld we can see gold stocks like eld,bto,yri,abx hitting new 52 week highs. When I long my charts these holdings are a minimum of 6-12 months. My outlook for fiat currencies like the cad and the euro are negative. Economies are in contraction and no the USA is not booming. The only thing booming is the debt load...
This is getting a little top heavy right now with the RSI (5) and MACD showing signs of a short term pullback brweing. Volume has decreased the last couple of days as well which usually means buyers have started to slow down. Anything can happen tomorrow with the FED rate decision however, but ultimately gold prices need to move higher in order to reach and pass...
Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.
TSX
