If the CBA overhang is gone , then we should see some big gains over the next few sessions unless the POG decides to have another major correction.
POG having a crack at $1400 seems far more likely from here, but may hit some resistance at that level. The shorters will try and protect that level pretty aggressively. Will likely take several attempts before it can close above $1400 (as usual)
I also think $1400 is a huge psychological level for gold equities to extend this recent rally. Gold stocks may start to trade sideways to slightly down until $1400+ is reclaimed.
As for today ,I expect some relative weakness in goldies. North American gold indices were down on Friday , despite the rise in the POG.
Could be a good chance this week to make one last accumulation effort at these sub 18c prices.
AMX Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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