DRE Chart, page-2826

Time for a short term daily chart update. P = Princeton Economics which was Martin Armstrong before he was jailed for contempt of court. His clients managing US$2Trillion back in the 80's and was pinged for "causing" the Russian collapse he predicted to the day. These lines are how trend lines should be used according to Martin. This is a GoldOz chart however, as other elements are added.

The OHR is over head resistance which became support at present. A-B-C-D shows a complex and long buy divergence. The stock was ready to bounce when Dean made that announcement. Price is often the focus of less experienced investors and that tends to lead to fear and greed. Longer experience leads an investor to focus on momentum which is senior to price as an indicator. Then there is money flow which is more important again but only over the longer term with OBV to hint at the future.

The P lines are targets now but note that price could run down the top of the green OHR line because that is just how they work. We are not in an uptrend yet; however the fundamental momentum has shifted from REE to gold and base metals for the balance of the year. Technicals often lag fundamental shifts as the market cannot anticipate forward results.

The H line in green is horizontal and I am glad to see that has held after the big news the other day - so far at least. The market is now primed to respond positively to promising announcements so I am glad to see a black out since the 31st in order to secure some real data. But there is so much going on with this company that other news could excite primed buyers at any time. That is why I hold a core position for the longer term. This could launch off the top of the OHR line at any time and head towards the P1 line as a first target - contingent on success in correlating REE results, the Tarraji - Yampi outcropping (main interest), further news out of the FQM JV or other positive news from the team.

GLTAH CW