OTCPK:KRCLF - Post by User
Comment by
cleareyeon May 29, 2023 12:35pm
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Post# 35468866
RE:Average gold price for Q2 = 1999.89$ after 40 trading days
RE:Average gold price for Q2 = 1999.89$ after 40 trading daysFarquar,
I like the way you are treating this stock as a reflection of average gold price over the longer term.
That is a very wise analysis.
In the past krr.to seems to have made exaggerated moves, dropping a lot before gold drops, then rising as gold is hitting a bottom.
So, I think that krr is near a bottom here. The price of gold could be driven down to the next Fibanacci level of around 1916 but I don't think that krr.to will respond by another huge drop. Instead I think that your analysis will hold true and krr will drop very little, but it will start to climb - out performing some of the other gold stocks.
Gold traders seem to live and die by these Fibanacci numbers, making them their goal-posts, and giving truth to their mystical or at best esoteric logic. The Fibinacci number of 1948 is the current battleground, and the insiders have some determination to make it a point of resistance after it failed as a point of support. I hope the esoteric crowd lose but they have the money and the pundits on their side.
It may be that I'm being overly optimistic to say that krr won't drop by a huge margin if gold goes down and hits 1916, but it is based on what I have been seeing over the past 6 months.
All the best,
cleareye.