OZL
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0.00% $26.44 oz minerals limited

extension of gold support

  1. BerlinBusiness
    1,724 Posts.
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    26/01/12
    23:05
    Post #: 9602455
    Hi guys,

    Previously I had envisaged that gold support would fizzle mid 2012. With the latest announcement from the Fed re: the prolonging of low rates until late 2014, I believe the 1800-1900 mark could find support and possibly be extended to the end of 2012, and maybe even early 2013. From there, oversupply looks threatening.

    OZLs technical indicators support a buy as acknowledged by ForexPros - see: OZL Technical Indicators

    Copper will certainly go some way to offsetting any weakness in gold in early 2013. I think gold will also continue to trade as a currency, commodity and safe haven as demand remains ubiquitous and strong and Greece remains a threat. Short-term, medium term it all looks bullish from where I'm standing but I'm in for a quick trade.
    OZL Price at posting: $11.03 Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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