Morning All,Well I woke up to see a nice suprise with gold up...

Morning All,

Well I woke up to see a nice suprise with gold up again last night to $955us/oz. Sharp moves have been witnessed over the past few days, and I suspect there are a few gold stocks lagging on the ASX. As I suggested yesterday, I took a punt on Oceanagold Corp (OGC) and Sliver Lake Resource (SLR)...

Both these stocks saw solid solid gains yesterday, with SLR testing blue sky before closing @ 53c. We have resistance @ 55c short term, but I feel we might see this get broken shortly after open. Adwebster made a great post this morning showing many of the gold stocks charts, all look bullish and its a lottery working out which ones will reap the biggest rewards in terms of % gains.

Here is the SLR chart.. I cloned it from ADWebster (thanks)



Also worth noting on SLR is the expecting announcement advising that they have commenced production at their Christmas flats project. From their quaterly they stated the following::::

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Regulatory approvals have been received to allow the commencement of mining at the Christmas Flats project.

Project commencement is expected in June 2009.

Stage 1 of the project extracts 10,000 ounces over a six month time frame. The remaining resource of 41,000 ounces is undergoing a mining study to determine extraction methods either via an open pit cutback or from underground.

I will continue to hold these until I see any sentiment change on gold, though I think this strength will remain for a few days to come.
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As for OGC, I expect this stock will continue to rise towards the $1.25-$1.30 level short term. I posted a chart showing next resistance levels yesterday, with first test @ $1.20.

Here is the chart.



Good luck today guys, and trade carefully!

Cheers
Kevi