Very strong support displayed once again at the $2.80 level displaying double bottom support. A clear rejection of lower levels is a positive sign, especially in this market.
Now to test resistance at $3.18 and then $3.40 again. Needs to break $3.60 to test new highs at $4.40.
LGL also displays a falling wedge pattern since the 22/5/08 high of $3.40. Any break upward of $3.00 will be very bullish, the big buying that came in the last hour yesterday gives a very strong indication of that occuring now.
With 17/6 being a key positive date for LGL I would say the time is near for a major positive move. The below link to Dawes of MPS won't hurt either :)
I think MPS, Fat Prophets and Macquarie all have it correct in that gold is going a lot higher and MPS believe toward USD$1500
Gold, resources hot in '08, MPS boss Dawes says Gold could be at $1500 next year
Very strong support displayed once again at the $2.80 level...
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