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Mainly Miners

Discussion in 'Commodities' started by ozspec, Jan 16, 2020.

  1. ozspec

    ozspec

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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?

    [​IMG]
     
  2. tinhat

    tinhat Pocket Calculator Operator

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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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