gold stocks lag gold then play catch up
when the AUD breaks its decade long downtrend against USD... then you will see foreign mony pile in and our miner to gold ratio will surge
however aside from that we have a run in the XGD from 2014 to 2020 followed by a bull flag.. this has been broken out of to the upside and backtested, and now we have broken out of a smaller bull flag in the process.. will it backtest too?.. possible if gold goes corrective on the recent run to consolidate the gains over the next month or 3
this (in orange) is a correlation drawn from the 2008 break out of an inverted head and shoulders into a bull run.. if we were to follow that to the letter then 2150 is a possibility... of course history rhymes bit seldom repeast exactly and a 38.2 or 50% retrace are more common in early % mid stages of a bull market, its 61.8% back to 2150
gold stocks lag gold then play catch upwhen the AUD breaks its...
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Last
$1.69 |
Change
-0.055(3.16%) |
Mkt cap ! $1.983B | |||
| Open | High | Low | Value | Volume |
| $1.78 | $1.78 | $1.69 | $4.994M | 2.942M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 124954 | $1.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.69 | 40 | 1 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.69 |
Change
-0.055 ( 3.12 %) |
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| Open | High | Low | Volume | ||
| $1.77 | $1.77 | $1.69 | 1106934 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| BGL (ASX) Chart |