NCM
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0.00% $23.35 newcrest mining limited

bounce from 52 week low, page-4

  1. kacy
    11,682 Posts.
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    10/05/13
    11:39
    Post #: 11747871
    NCM is simply a bet on the price of gold.

    Overnight, gold took a hit because the USD/JPY broke 100 and that triggered a massive number of trades: long USD and short JPY.

    Gold fell only because of the sudden USD rise but this is only temporary. Long term, the USD is trending down and it remains in the downtrend. Tonight it will head south after hitting resistance and the gold bulls will be back again.

    In fact, I think they are already back!

    NCM Price at posting: $17.25 Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 1  Upvote
    lightbulb Created with Sketch.  Great analysis
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