BMR Week In Reviewhttps://www.bullmarketrun.com/?p=5287
Gold Bullion threw a nasty curve ball at the market last Tuesday morning – assay results on a whopping 56 holes were suddenly dumped on the market early that trading day, allowing investors no time for interpretation and creating an instant panic that caused the stock to tumble from a high of 77 cents that day to a low of 53 cents…this was a classic example of a poor corporate communication strategy or none at all…the stock very quickly broke important technical support after the news came out Tuesday and this just made matters worse…having said that, there were many encouraging and even some exciting results which is why the stock began to stabilize after its Terrible Tuesday and strengthen later in the week…
GBB closed Friday at 58 cents, a loss of 15 cents for the week…for the first time since 2009
Gold Bullion is now trading below its 100 and 200-day moving averages…that kind of chart damage has consequences and creates new overhead resistance…on the bright side, the 200-day SMA at 62 cents continues to rise and the rising 300-day at 48 cents provides backup technical support to that which exists in the low 50's as John outlined in his recent chart…our faith in the Granada
Gold Property remains as strong as ever and we’ll be going into detail on the latest results in a major article this week…