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Slim Wanderer

385 Posts.

26/07/16

12:18

Post #: 18367178
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Originally posted by V* ↑

I just can't shake vibes I get from that long term diagonal downtrend from the US peak price, shared several times already.
Suggests US POG will not see $1,400 this year at all, the way I read it.

Anyway, BDR price chart also showing that we may not have finished bottoming yet.
Wait and see if 40.5 will be as low as she gets but downtrend continues for now since the peak on 7th July.

Surely getting close to a bottom now though I would think.
That's a hefty retracement from low 50's.
Markets must be due for a pullback soon??

I still consider these lows as healthy profit taking.
Still up a generous 30% from prices we were trading 1-2 months ago.

The almost insignificant gap at 38.5 and the lower lows occuring for BDR SP recently, plus POG not yet breaking up on my chart, so I keep watching this falling knife, despite the massive swing back up that is surely coming on fundamentals.
I continue to wait for a bargain or a stronger sense that the ship has indeed turned around.

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V, I found this daily GOLD chart. It might be of interest. I have no charting knowledge. I just speculate that the POG will be $1400.00 bucks by end of year because of all the @#$% happening in the world. Then again I could be wrong, but I don't wanna miss the train. I got physical GOLD fever @#$%ING BAD! I dream about GOLD, chicks and my Hot Rod.
http://jessescrossroadscafe.blogspot.com.au/

BDR Price at posting: 41.3¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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Gold price, page-3801

Top Stories

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