gbz breakout, page-22

Sorry for not updating my chart in a timely manner, I have been busy with school.



Unfortunately atm we have broken down, instead of breaking out. Very disappointed really, I had high hopes for GBZ as the consolidation period looked strong and as you all know, lasted quite a while. The monthly candle has not closed yet, but we have taken out previous higher lows and now put in a low. If by some miracle price action is able to be bought back to $0.114 then we may still have a chance to see the continuation we all want to see. I am still bullish on gold itself, but I guess gold miners still have some ways to go. You can also see that we opened below the key support level (yellow line) and then wicked up and tested it to only be rejected. I do think GBZ has solid fundamentals, I just believe the lack of news flow and the current economic environment have positioned it in a tricky spot. One last thing to note is that we've now also broken into monthly seller strength territory, this just tells me there is a lack of conviction in the trend now. Again this could all change by the end of the month, but we'll all just have to wait and see.