Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Gold Reversal - ^^^^^^ Up!

|Includes: GDX, SPDR Gold Trust ETF (GLD)
Gold Reversal - ^^^^^^ Up!

Da Rock tries his hand at interpreting the charts.

What's next for Gold?



Gold seems ready to turn at this point, checking the timing, the RSI curling up, the white candle on Friday and the STO at a low enough level to turn.

Fundamentally, Gold should continue its move upwards; and now the charts seems to confirm this.

Now to try this on ma fav Gold Stock GBG.

Interesting, the stock GBG seems to move with the price of Gold; at least for the last 2 months, as production gets closer with Burnstone.  The last 2 dips were lined up with Gold.  The dip at the end of March was probably due to 1st Qtr not being as rosy as estimated.  Well, that is good prospects indeed for GBG with Burnstone starting production this month.  Now if only the Eskom strike will get settled.  Burnstone have their own backup generators, but the Eskom hookup will reduce costs.

Gold luck ta yas!

Just da way I see dat!
HardRock


Disclosure: Long GBG