It seems that there is no speculation buying happening in MYG. 'Buying the rumour and selling the facts' type scenario, isn't happening. Thats not a bad thing, means we have plenty of upside IF positive results come our way.
XJO is under 4000, do we do a bottom double of the August lows and rally again ? Or hit GFC targets of 3300 or so ? Any ones guess to what happens in EURO. Spain needs 670billion and that's the start.
Next few months are telling. But im on the side of the fence that all banks will stimulate sooner rather than later.
If that's the case - accompanied with ours news to come out, MYG may have the stars aligned. I cant see Gold in AUD dropping any big moves. Even if it retests 1400, AUD would be sub 90. So 1500 AUD floor is looking great.
MYG Price at posting:
6.6¢ Sentiment: LT Buy Disclosure: Held
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