Gold Mountain Mining Corp T.GMTN

Volume continues to contract

[Theckman1]

What this shows is a confirmation of seller exhaustion.  This does not mean we'll see an immediate quick rise in the share price, however Gold continues to show strength in the face of economic uncertainty.  If the general market (S&P 500) resumes it's downtrend then we could see further strength in the US$, and Gold could retrace some of it's recent gains.

Interesting times for sure, and Gold right now has strong resistance from $1,815-1,840.  If we go above this with strength then a whole new dynamic will come in to play, which would be a substantial rise in the price back towards $2,000.  

I'll take advantage of any retracement in GMTN.  All the best,

[techguy12]

Definitely seems like someone is accumulating down at these levels. Nice to see Gold catching a bid as well.

[Theckman1]

Agreed, techguy12...we are in an accumulation phase by every measure (see the Wyckoff Price Cycle).  Volume is decreasing, we are now above the 100-day SMA on the 90-day/2 hour chart, and the 200 SMA is currently at .37 US.  If we bump above .30 US, we are then on our way (not in a straight line, but possible) to my intermediate price of .44 US.  We are tracking very well with the