volcano ready to erupt, page-15

Hi guys, I'm a holder and feel the frustration on the OGX board. I appreciate threads that discuss the fundamentals but I also do my own charts to get insights that, maybe, are not being expressed on HC.

I'm optimistic right now for a few reasons:

Starting with the backdrop, I follow the GDX and GDXJ indicies daily and the little detonation on the Friday night session in NY raised my hopes that we might soon see some ignition here. I've linked an article that shows charts of the two indicies and I'm sure you'll agree that there is a sense of optimism surrounding the 'goldies'.
http://www.gold-eagle.com/article/gold-stocks-breakout…gold-follow
Quote: "Gold stocks are breaking out…and could be headed much higher in the near-term."

Looking at my own charts, I update them every weekend and I saw two main things on the weekend Starting with the bigger picture, the weekly has got a great set of parallel lines which, to me, are often good ol' trend channels. I could not help but notice the support that exists at current prices.



Moving to the daily, the long horizontal band of consolidation hits everyone in the eye. Why so long. Why so narrow? If bullion and currencies move so much, how does this band get to sit there like a slab of concrete? Indecision, maybe. Relegated to the bottom drawer and I sense that sentiment on this board.

There is another thought. OGX is being accumulated. Now that's bullish! Price is being managed so that bulls on the sidelines waiting to buy in are discouraged and existing bulls holding a non-performer are being frustrated into submission ... whereby the accumulator mops up.

The daily chart below shows the congestion between 16c and 18c. Since the start of 2016, there have been 10 green candles. Dojis, the bars without candle bodies, amount to a count of about 26. The red candle count is 29. There are 3 times as many red candles than green. Get the picture?

The longer management deliberates, the more time the accumulator has to fill his truck.

Patience required.

Good luck to all holders.