I couldn't find a chart thread so I've started one.
SP sitting right on the 61.8% retracement line presently.
Reasonable news yesterday but IMO not fantastic....market doesn't seem to think so either. Maybe 1g/pt would have been what we were all hoping for minimum????
Everything starting to turn down now..MACD, Stoch etc.
Therefore I will be watching to see if:
A: SP can hold up or bounce up from this Fib mark, or
B: If SP does fall further I'm looking to see if it passes halfway past the large green candle from back early November.
If that is the case then pricing may settle on 8.3c before pre-good news FOMO or actual good news can pick things up again.
IMO Globally, gold looks primed for another run. Although it will positively affect producers more the explorers, I do believe we would also benefit from it somewhat.
Happy Friday.
MNC Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
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