gold, page-11679

AJ. Thank you for that chart & the highlighting. I am no good with charts or terminology, just a simple investor trying to learn.

1. Do you think it is significant that over the past 4 or so months, the trend is at the upper limit of your top red trend line? (perhaps neutral with a bullish bias)

2. Wouldn't the gold price need a decent push down, at least another $30-$50, to say between $US1,240 to US$1,280 with the potential of further downside to risk it reverting back to the downward trend?

3. Is it more bullish, the more time it spends at that upper trend level, suggesting that it is more likely that it will break out upwards, rather then down?

In the two red lines you have, I don't see any time in the last 5 years, where the POG has spent so much time at the upper limit of any of those lines.

I am a gold bug, but I am also a realist. I don't yet see a convincing argument that gold is about to reverse.

So I am still fully invested in my Aussie gold mining shares, with spare ammo.

Fear does not drive my trades, at this stage I am well ahead over the past 12 months on my selected goldies (up about 60% on average in total, with one up over 300%), and don't mind a retracement here or there. I swapped some profits into investment grade gold stocks, of which I am sure you hold.

Obviously capital preservation is important, so I would sell if there is a significant turn around, but I just don't see it happening.

POG is closer to breakout then breakdown is all I can see. It had a meteoric rise this year and appears to be consolidating before the next leg up.