Gold is setting up for a move very soon
Technicals at key pressure points
NST is a global leader.
Key Points
Gold
- Getting ready to move higher
- Technicals tight
- Look at all of the time scales
- AU$ gold looking to rise
- Gold vs. T Bonds is about to rise
Gold Stocks
- XAU could jump higher this week.
- TSX-V is wedging and about to break the downtrend
ASX Gold Stocks
- XGD Index holding on
- NST earnings
- 41% increase in EBITDA!
- 50% increase in Cash Earnings!
- 36% increase in interim dividend
Gold stock investors and speculators have been ground into a pulp over the past few years, but there is still hope for a better future.
Many technicals are suggesting a breakout is at hand. And it still could be February.
Asia will be back from Spring Festival in full for next week. Gold here is quiet.
But Gold here has jumped above the downtrend.
Looks constructive.
Note that there is a wedge here that should be broken quite soon.
Hopefully higher.
This just gets closer to resolution each day.
And the big picture just says higher prices are coming.
Gold is ready to break higher against bonds.
Can't be much longer to go now.
Stronger gold or weaker bonds?
Stronger gold and strong bonds.
Gold in AU$ has broken and has backtested the downtrend.
Should start moving up again.
Gold Stocks
This is oversold, pushing against a downtrend, bouncing off the underlying parabola, and ready to rise.
This shows that a resolution is required.
Gold stock sentiment is close to a bottom.
I think there was capitulation in the past week.
Should be ready to rally soon now.
Note this, though. A16-year bear market here.
Supporting on downtrend line and ready to break through wedge. Completing that RHS.
A very bullish pattern.
ASX Gold Stocks
The indeck is hanging on.
And then there is one!
Global Leader Northern Star Resources Ltd. (NESRF:OTCMKTS)
41% increase in EBITDA!
50% increase in Cash Earnings!
36% increase in interim dividend!
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