Those who have seen my posts knows that I have sold off all in July/August, and said to wait till 1Q 2021 for any positive price actions.The decision was based on the chart price actions, seasonal GOLD trend, and announcements made by the company.
The latest chart update shows the second Death Cross has just formed after breaking down from the upward channel. It has now made a new low after falling through major support at 46c. All these shows continuous price weakness.
I will be looking at nibbling at around the 40c mark. We may get a short reprieve at the 50% Retracement i.e. 43c. Still holding out that the GAP, blue circle, will be filled before price starts to trend north again. The GAP could be filled in a short and swift price breakdown.
Ann: June Quarter Production, page-130
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