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Online Share Trading

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break out or breakdance

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kr_pto
Super Contributor
Is the big break out about to happen?
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9 REPLIES 9
Not applicable
Yo kripto, i wouldn't think there would be a big break out unless gold does a big break out. However the share price is trending up. I got resistance at 13800c and then 14000c. 14000c represent the upper resistance line of the trend. I think once it reaches this rresistance line it will probably come down to the support line before surging again. This is a common trait for gold shares especially ones in an elliot wave formation. OMO
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hmm - I'm not so sure that this share tracks USD gold price. It has better correlation with the rand gold price.
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SimonPB
Valued Contributor
hmmm, or a correlation with one of their mine shafts = down ?
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kr_pto
Super Contributor
thanks OZ. not thinking it will run hard, but just reestablish a bullish trend. pretty much agree with your restistance levels, except maybe 14300 instead of 14000..
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Brazen
Super Contributor
Bring tissues indeed!
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Not applicable
Yo krito..y 14300c?? Agreed it is the next level after R13800c BUT its been tradin in a upward bend/trend and its resistance line is around the R14000c area. So hence I think that will play a role too. Use the closing prices on 25th Jan and 23rd Feb to see the resistance line of the trend. A similar support line running below but in parallel can also br drawn...Comments? oh and everything still OMO ;o))
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kr_pto
Super Contributor
ja, i think you may be right, the 14000 seems stronger. i was lookin back 2 oct 06, but i think resistance of the shorter term trend as you have it coincides better with the horizontal level back to 8 may, 5 jun, 6 oct.
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Russ
Super Contributor
There's a rumour that the U.S. Marines are going long on gold.
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Not applicable
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