Opened a position at 4.5 today. Will probably hold this one for...

Opened a position at 4.5 today. Will probably hold this one for a while but if the price moves sharply up for whatever reason, I may trade out.

It looks like 4.5 is the base now with a few tests of 4.4 being rejected. It's formed a descending wedge so it's not the most bullish formation but for the SP to breakout downwards, it would drive the value down so low that it would be hard to ignore for investors with a long term view of gold. Could a producer with multi-million oz resource and an improving balance sheet really go for sub-$50m?

So IMO 4.4 being tested again is probable but I'd be surprised it if breaks down which means if it can break out of the declining trend with some volume, the SP direction should start trending up.