The charts now look favorablehttps://charting.godmode-trader.de/t/grid/config?id=4486947&width=640&height=360
As you may remember, when I submitted the last time the chart of OGC, I said "can't see any positive". Soon later the share price dropped a lot to a recent low of 1,62 CAN$.
Today I again submit the chart of OGC, to say, that it now looks favorable. The indicators obviously made their lows, and the downtrend of the recent months is broken to the upside.
In 2015 the low, subsequent upmove and the first downmove, indicated the 261,80 fibonacci - extension accurately at 2016 first July as a goal, in € 3,962, it reached 3,872 €.
According to the same method now the 261,80 fibonacci - extension would indicate a price goal of 5,423 € (about 8,50 Can$), but with no timeframe.
So let's see if the things repeat. For this scenario Wahihi must produce > 300000 ounces / year for AISC below 600 US$, Didipio must be online again, and Haile must be in a much better shape ... and the gold price far beyond 2000 US $.
Other gold companies like Alacer Gold (now merged with SSR Mining) made such a move, after a long sideway development.