Australian (ASX) Stock Market Forum

Mainly Miners

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WGX daily chart showing lower lows and lower highs, could indicate a trend change which may send it lower, but it also looks very much like a bull-flag which could see it go back to 2.50 and potentially break through the resistance there. The positive seasonality of gold for Jan/Feb would favour it going higher. I wouldn't buy at the current price based on the price action unless it breaks through the upper trend resistance line with strong volume.

What do you think is more likely: bull flag before moving higher, or trend change heading lower?

yJ6jJRx.png
 

tinhat

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Hey opzspec, good to meet you. Thanks for the chart. I reckon there a few here like me who are bullish gold (me, I'm modestly bullish based on the assumption that aus miners are going to make money for some time).

I've never looked at WGX. Perhaps it would be worth while posting something in the WGX thread about the stock. I note that your analysis is technical but you may know more about this stock that you could share?

Cheers to you from the guy with a track record of only loses from gold stocks.
 
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Vancouver, British Columbia, September 8, 2020 (NYSE American: EMX; TSX Venture: EMX) – EMX Royalty Corporation (the "Company" or "EMX") is pleased to announce the execution of an exploration and option agreement (the "Agreement") for the Queensland Gold project in northeastern Australia (the "Project") with Many Peaks Gold Pty Ltd ("MPL"), a private Australian company.
The Agreement provides EMX with cash, work commitments, annual advance royalty payments, and a 2.5% Net Smelter Returns ("NSR") royalty interest in the Project, as well as other considerations.
The Queensland Gold Project is host to multiple styles of gold and copper mineralization, including key intrusion related gold targets that were only partly explored in the mid-1990's.
 
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