GREY:ALXDF - Post by User
Post by
goldopportunityon Oct 26, 2014 3:27pm
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Post# 23062395
Imo, a perfect storm is brewing for azx....
Imo, a perfect storm is brewing for azx....consider the following:
- big volume day on wednesday folowing pr that azx doubles gold resource at sleepy
- smart money buying from impatient dumb money from release of pr to end of week
- azx trades within narrow half-cent range on thurs. and fri. on decreasing low volume
- fewer sellers so buying pressure results in azx closing fri. at week's high
- rsi, macd, cmf, accum/dist turning up from depresed levels leading into weekend
Looking ahead, I believe we'll see steadily, increased buying pressure that will result in a higher sp. Keep in mind, however, that nothing goes up in a straight line as there will be volatility for sure -- afterall, that's how traders make money. And volatility we'll most likely get with the fomc policy announcement looming this wednesday afternoon. Jmvho.
goldopportunity