idc, gold and the golden cross

To all IDC and GOLD followers,

A very interesting and VERY BULLISH development took place this morning.

GOLD has just completed and confirmed a GOLDEN CROSS manouevre on it's daily chart, and what's even more exciting is that IDC's about to do the same (in @4-7 trading days as a guess).

To be clear, that doesn't automatically mean IDC and GOLD will go to the moon straight away (they may retrace slightly or consolidate a little further) but a sustained and substantial move NORTH is very much on the cards for the rest of 2014 according to this technical analysis theory.

THE GOLDEN CROSS / DEATH CROSS THEORY

Basically when the 50 day moving average (50dma) crosses ABOVE the 200 day moving average (200dma) this is known as a GOLDEN CROSS and is generally considered to be a VERY BULLISH development. The opposite is called the DEATH CROSS and occurs when the 50dma crosses BENEATH the 200dma.

The smart money is very aware of what this all means IMO.

Note: the GOLDEN CROSS has only occurred once in IDC's history.

The first time was relatively short lived because the 200dma was trending down at the time (although the price still went from 10.5c to 17c).

This time however the 200dma for the FIRST TIME IN IDC's HISTORY has begun trending UP!!!

Remember that this is only what the charts are telling me and is only one half of the puzzle IMO (the other half being fundamentals and in IDC's case the confirmation of funding and how much).

But isn't it uncanny how the GOLDEN CROSS is going to virtually coincide with the expected date of funding confirmation.

That is why I love using technical analysis, when pieced together correctly with the fundamentals, it can provide a much clearer picture and gives one greater confidence when trying to predict the future.

The planets are aligning IMO :-)

Cheers
Elpha

Note: my opinion and analysis are mine only and in no way am I offering advice of any kind. Please DYOR.