That looks like a wedge pattern and that is how I see things can happen either way. I note that at the top it was also a wedge looking pastern that failed once the triple bottom gave way.
From a USD income gold producers perspective then I would think it is high risk to be getting exposure in those equities but Aussie producers are somewhat sheltered from the falling AUDUSD to compensate in margin terms. I suspect their share price would follow the selloff if POG/USD keeps dropping sentiment wise but still remains a sustainable operations generally speaking.
Constructively speaking the charts are pointing to further weakness as a likelier event for the triple bottom to be tested again than a rally simply because the peaks however way you look at it are lower on each formation. Some here would probably say with certainty they KNOW where it is going but I work on likelihood and it is pointing that way to me with the evidence I have.
So those who KNOW where it is going I say to you to spend more time with your finances and squeeze out every bit of spare liquid capital and start looking to short US gold producers. Personally I look at this as a good opportunity to accumulate good high margin high grade Aussie goldies. I don't know where gold will be going on Monday let alone in 6 months time regardless of what predictive methods I use. Good luck physical or equity gold holders.
a likelier event for the triple bottom to be tested again than a rally simply because the peaks however way you look at it are lower on each formation. Some here would probably say with certainty they KNOW where it is going but I work on likelihood and it is pointing that way to me with the evidence I have.
