NST 0.14% $13.88 northern star resources ltd

Best looking weekly chart, page-1085

  1. 745 Posts.
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    It has been more than 2 months since I last posted. I have been wrong at least in timing of gold and gold stocks bottoming. And the gold stock has since morphed into a different pattern which can be seen in the Hui chart which has a longer history. It is not surprising that the fed is still tightening as inflation is still running hot. Nor is it surprising to see countries other than the usa are beginning to have major currency problems We have seen Japan europe and china alll selling Us treasury bonds which is bullish for the usd. We have heard of rumours of some banks esp european banks getting into trouble. Yet the us fed is still tightening credit and raising interest rate. All the signs are there for a major crisiis brewing yet we are not seeing the fed even hinting at a pause. Sometimes it takes a lot more tine before what you expects can happen. Anyway there are a lot of areas in the economy which can trigger a crash just it it is not happening now. Maybe they have really got it under control for a little bit longer.
    Ok here is the big picture monthly chart fot the hui which has a longer history.. It is showing that the pattern has morphed into a bigger triangle patternhttps://hotcopper.com.au/data/attachments/4774/4774942-577838472b755aa9102c7c64d342f17d.jpg
    The shorter term weekly chart which shows the possible expanding bullish wedge pattern in play. Expanding bullish falling wedge is the toughest pattern to trade for a bull as it keep making lower lows making one doubt his conviction of the bull market, However it it completes and break out it is the most bullish pattern as most if not all the bulls would have sold when those lower lows are made leaving behind those die hard gold bulls who never sells. hence with no sellers left the uptrend becomes explosivehttps://hotcopper.com.au/data/attachments/4774/4774980-7a22a80d7f0bf05237ec1f34aae7e9c5.jpg
    when it comes.

 
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