Gold now $1301.40 USD per oz on CNBC, page-3

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fbx258

6,163 Posts.

1681

02/05/16

23:09

Post #: 17657823
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Originally posted by tomboy ↑

GP hit 1302
it couldnt break 1250 then the US$ went down on bad GDP figures and kaboom to 1300

SLR now 41.5c, im shocked,
i shouldnt have sold on the shakeout sub30c.
Congrats to the holders who stayed the course and stayed in.
I picked the lows and triple tops well but now I have no clue where this will go.

At the 3 year highs its tempting to sell but -

trading rule 2
Never sell on the way up as you dont know how high it will go,
sell on the way down on a confirmed trend lower after a peak

the triple top has been smashed through, the prior resistance at 28-33c now become support. We have to wait to see where it stops, looking at PRU it not stopping at prior interim highs but trying to find a new peak, high volume may be the signal this may be it but who knows anymore?

last time at 1300, SLR couldnt break 33c so its way past that as is PRU so i cannot buy here,
many holders will be looking to cash out soon but it depends on the GP & these unrelenting Instos who keep bidding it up.
Once they decide its over it will be obvious, but then I thought it was at 28c-33c again like the last 3 times but now clearly it wasnt.

I do not recomend anyone buying or selling here as the graph is on a rocket ride right now and a defined reversal trend needs to form first. Watch the volume selling and resistance.

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Tomboy you're looking at the wrong Gold graph, as SLR doesnt care for USD Gold. AUD Gold is 1696... i expect USD to go higher in ST and pressure USD Gold, though that will be shielded by the RBA tomorrow talking down the AUD... AUd going much lower IMO...

SLR will continue to make money and churn along, sentiment has changed and AUD goldies is where the money is moving now.

Its broken out and its a buy ! I will feel better after 45c is taken out. AUD Goldies peaked in FEB and today have hit new highs from NST/EVN to SLR...next leg starting for AUD goldies, though USD based ones will retrace

just IMO

Last edited by fbx258: 02/05/16

SLR Price at posting: 41.5¢ Sentiment: Buy Disclosure: Held
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