RE:Breakout above 6 year resistance!! 50 DMA crossing 200 DMAToday was an ugly day in general for the gold sector.
Gran Columbia and most other gold stocks I follow pulled back to a resistance line, and is possibly forming support here. Gran Columbia and the gold sector in general are still making higher highs and higher lows, which is indicative of a uptrend and a bull market. Don’t forget that. It’s never a bad idea to take profits on occasion when a stocks moved up substantially over a short period, but otherwise the trend both longterm and short term is still up.
“Be right and sit tight”
- Old Turkey
Good luck out there
The Alchemist