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Hey endless Not arguing with your sentiment but don't forget...

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speckledjim1

12,023 Posts.

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29/09/15

08:49

Post #: 16077333
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Originally posted by Endless ↑

Morning all.

After gold finally put in a higher low last week it looked for a while that we might see the start of a reversal. However, last night's fall has put in another lower high (the count is in the high teens now) and we are possibly heading for another low around $1050 which would most likely get pulled down to the magic $1000. We may also be forming a pennant here so a breakout up or down could also be on the cards. I would not try and predict but looking at long term charts you don't ever see the PoG really breakout and reverse a trend. So odds are PoG is heading lower. imo

I noted the excitement about RMS yesterday. I have a soft spot cos that goldie really made me serious money when it jumped from 11c to $2.20 back in the day. A different stock today. If PoG goes under $1000 they will have trouble making a profit along with 90% of other goldies.

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Hey endless
Not arguing with your sentiment but don't forget that gold is $1622 AUS atm
So if a pullback to $1000 US, would still be over $1400AUS, not including futher $AUS decline
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