It is bouncing on $1 - could be the base? Don't wait too long to get in otherwise you'll miss the boat.
If sentiment in gold changes it will pop up 100% in a short time i reckon. Came down quick and is oversold. Looking to buy more with the philosophy that if goes to 50 cents its probably all rover red rover for gold anyway. Looking to such low levels for an entry is probably not realistic with the gold story here. Buying around $1 with a stop at 70c - may be enticing risk reward for some.
If it is going to turn i think it will be around the dollar mark. Everyone must weight their own risk/reward ratios into this as it is quiet risky for most.
Something is up though very heavy volume,pressure on sp again today while other goldies not in the same ball park are holding okay.
One last short before long weekend perhaps ?
The gold price did surprise me though bounced last night off the interim support at 1411 and heading back up at 1423 last time i checked. If it brakes the resistance at 1444 things may heat up here.
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