New Found Gold Corp V.NFG

post of day

[likeike]

@WisGuy1  Gann Global Financial: Gann: Based upon psychology, I believe we are placing the final touches on this decline in the precious metals. Needless to say, the precious metals bulls have been vexed over the past 2 years given the 1 trillion dollar+ stimulus packages, inflation which has carried commodity prices 228% higher and geopolitical events (Afghanistan, Russian invasion and new Cold War). This has resulted in an existential crisis since this is contrary to the role that metals have played historically during uncertain times. At the same time, the public at large has been hijacked by the cryptocurrency bubble - the notion that cryptocurrencies had displaced precious metals as a store of value, crisis hedge and inflation hedge. So much for that theory - Bitcoin has declined 75%. In the meanwhile, there's no doubt this recent selloff in the stock market has resulted in sympathy selling in the precious metals and precious metals stocks. All of this adds up to the metals being diminished and kicked to the curb by the investment community. But that's what you want to see at major turning points - no fanfare, just despondency and ambivalence. The art of contrary opinion in the markets is to look to buy when everyone is looking the other way. This psychology at the completion of these cycle lows is just what I look for at a major turning point. $NVO $LIO $IRV $ESK $NFG $ELO

[1condor]

Like I have been saying...wait for the 5's (its inevitable) either to add/quick trade or take a new position. For traders the chart says it would be a good play back up to the top of its range just around 7 bucks.

[likeike]

Like I have been saying...wait for the 5's (its inevitable) either to add/quick trade or take a new position. For traders the chart says it would be a good play back up to the top of its range just around 7 bucks. First I heard you say it.....anyone else hear him say it>? IKE

[Dixiedee]

Now that 6.20 didn't hold there is a possibility that we could break 6 possibly all the way to 5.25  some good news could reverse this before it even happens we need to get back over 6.20 to repair some of the damage done to chart move back to 6.30 would put 6.60-6.90 back within reach  on the positive side we closed off the lows of the day and volume was low  with a bump in

[Dixiedee]

    this was my post when we where at 6.20 now that we broke 6 if it closes below 6 major support is at 5.25 with minor support between 5.60 and 5.75  summer holidays always a difficult time 

[snooker1797]

i agree - we could be near a bottom. we are in a general bear market for equities and bonds so alot of the price decay is nothing personal to NFG it seems we are in risk off  summer doldrums and lack of news on drilling results. strong us dollar - because of interest rate hikes what are the odds they take the co. private?  technical support is in the 4$ range  have just stated the

[likeike]

 agree - we could be near a bottom. we are in a general bear market for equities and bonds so alot of the price decay is nothing personal to NFG it seems we are in risk off  summer doldrums and lack of news on drilling results. strong us dollar - because of interest rate hikes what are the odds they take the co. private?  technical support is in the 4$ range  have just stated

[Dixiedee]

Agree