Ready for a rebound? Or is it a gold recovery?
Updated
Gold shares (especially Australian) have been strong for the past few weeks, encouraged probably by a higher Aussie-dollar gold price. The strong bearish sentiment in the metal has not translated to prices in leading stocks.
Now gold appears to have hit the bottom of the downtrend channel and is ready to at least challenge the top of the channel.
Now gold appears to have hit the bottom of the downtrend channel and is ready to at least challenge the top of the channel.
Comment
Note the two resistance zones marked by the shaded rectangles.
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