I am not a technical analyst but I have great respect for those...

I am not a technical analyst but I have great respect for those who know the ropes and call the navigational points via TA.
It was therefore interesting to see that last December 15 @Saragian charted [ref] BGL as having a $1.31 upside repeating range setting $1.02 and $2.33 as range latitudes - leading to a ‘midpoint’ sixty five and a half cents lower of $1.675.  

[ref]

…On that basis  I think it’s interesting that
A) the $150m of new shares at $1.55 each were sold a ‘healthy’ (for the buyers) 12.5c discount to that $1.675 midline.

B) that Friday’s opening low held  at  the quarter point line of around $1.35 in the first five minutes of trading and that the price from around 10.30am  held at $1.40 and higher.


As said I am no chartist and hold less than 20,000 shares at present at an average of $1.48 but I’m kind of thinking gold is clearly NOT in down trend and that those who supported the raise at $1.55 knew what they were doing.
.…And that action around  $1.67.5 may be interesting.

And that (gold remaining positive) BGL will return to that level fairly swiftly.​

And that I might test my speculations about that 7.5 month old chart (thank you Saragian) by buyimg a few more if the price stays lowish.​

​

Good luck to all the long term high hopers here;
If Bellevue intends - in the next five years to be “one of only seven gold projects in the world producing more than 200,000oz at 5g/t gold or more in a tier-one jurisdiction.” [ref] and is now well set up with the wherewithal to get there that’s gotta be a good thing?


cheers