GREY:ALXDF - Post by User
Post by
goldopportunityon Apr 08, 2017 7:16pm
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Post# 26096709
Fwiw.....
Fwiw.....Alxdf did a few interesting things on friday:
1. it made a st high (usd .0619 = cdn .083 boc 1.3410 close)
2. this intra-day high put sp within a tad of a confirmed early february double-top high
So alxdf is virtually hitting a strong resistance level. So what happens now? Well, we could grind here a bit, which would be perfectly fine to cool off some st indicators. Or....hmm....maybe I should just tell you what I expect to happen with alxdf's sp before the end of Q2.
But some background first. Friday changed everything for the very positive going forward. That's when gold broke thru the 200dma and down trendline line. Busting thru these 2 heavily fortified resistance levels confirmed to me that the pog was going to head much higher, very quickly and very soon. It doesn't matter that the pog closed near the lows of the day -- that's just noise. Same with the surge in the usd -- just noise. The battle I've been waiting for, and knew was shortly coming, begins in earnest this coming week. And gold instruments will be victorious in the end. And to the victor, go the spoils.
Now back to alxdf. Assuming we continue to get forthcoming PRs with great drill #s, then this Q2 I'm expecting sp conservatively to at least hit last july's high of usd .095 = cdn .1273. Now, of course, if a take-over happens, well, the sp will be considerably higher.
As I mentioned friday, gold will really start to move higher when it makes a decisive close above the down trendline ($1266ish). When this occurs, a short-covering rally will catapult gold up to the $1315-20 area, or even as high as maybe $1330. Then we'll get a fib retracement. And before the end of june I'm looking at $1400+.pog
But I caution, this will be fast-moving and sometimes gut-wrenching. If you're retail, just stay the course. Traders, of course, will trade.
So we'll see what happens. Jmvho.
goldopp