IMO, AVO's about to take off. Gold's almost down on its 200 day moving average in Euros (NOT US$). So there's very little correction left to go - just a bottoming out before an upmove as the buyers move back in. AND, furthermore, the HUI AMEX Gold Bugs Index did not replicate golds spectacular correction of yesterday. Gold in US$ has bottomed on the 100 day moving average and is now heavily oversold on the MACD. Therefore, gold stocks which have heavily UNDERperformed gold are set now, at last, to take off. AVO chart formation looks very favorable given this scenario and, as I have said on HC so many times all the fundamentals of AVO are solid.
AVO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
