Ha, yes, I made a terrible play on STO recently, can not for the life of me figure that one out. When I moved in on my trade it's SP was following OIL to the letter, I had it all charted out, but lately it's playing a whole different ball game (still affected somewhat by oil of course, just less direct correlation in prices). I continue watching that and ORG but my gut feeling is we still have a possibility of $20 oil. Whilst that may seem ridiculous (and I agree, these low prices for oil ARE!), I do not believe continued lower low's are out of the ranges of possibility, so am staying well away until I see clearer signs of a restoration of steady and rising prices, crikey! it's a worse yoyo than gold at the moment
What I do feel bad on not taking was a small stake in FMG in recent weeks as Iron Ore seems to have broken away from the energy pack, or at least it's long term downtrend - I've kept my distance there based purely on OIL and uncertainty too. Guess I can't win em all
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back to POG.
Hmmm, this actually looks really good...
$1,180ish is the point I'm looking to as a support for continued rises.
It could dip under that (it can break out of this chart above and below a few times, I consider that normal). Quite a wide berth here of lows and highs on the way up - as was the case for years now on the way down. completely normal.
**yes, I'm presuming we are out of the bear trend until this chart fails, so far, so good.
***that horizontal red line is the top of a long term downtrend.
