Might be a good time to add to the tiny parcel I own I hope with...

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2,478 Posts.

162

02/04/16

08:36

Post #: 17406295
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Originally posted by tomboy ↑

What no thumbs up, no thanks for warning you all of this SP drop?

I told you all at 33c-38c above this triple top range of 28-33c that it looked terrible and stay away until a defined bottom pattern formed as its going lower.

I was spot on.

Todays daily chart is a bearish red dragonfly doji or pick hammer, and at 29-31c thats very dangerous as its not far from the 28c shoulder and then the 20-25c arm drop.
monthly rounding top pattern is bearish, barchart.com is bearish
annual chart shows a head and shoulders pattern formed bearish.

28c-30c is a serious battleground area and if it doesnt hold 20-25c looks possible.

Interestingly this CEXT Insto buyer keeps buying at any price just like since 22c so wants volume, likely wants to build a stake at a cheaper SP too.

At the triple top point since Jan 2015 bets to stay away unless you are shorting until a defined flatline on low volume appears somewhere 20-30c.

I cant see another GP rally till December when Trump wins the US Presidency and starts his austerity, trade wars with a serious devaluation of the US$.

If I was right 4 out of 5 times (I didnt pick the spike from 33c to 38c), i may be right again from here.
Sorry.
With Goldies, you have to trade them up and down or lose.

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Might be a good time to add to the tiny parcel I own I hope with oil down 4% it could spark another little gold rush again in coming weeks & as 1 poster wrote this company is way better than it was 6 months ago so for me it's becoming a bargain

SLR Price at posting: 29.5¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

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