NCM 0.75% $32.14 newcrest mining limited

gold reversal off $326

  1. 165 Posts.
    Up until yesterday I was bearish gold with possible downside to $308, however, the price has reversed off $326 and briefly broken out of the resistance area between $325 and $331. This seems to me to be a bullish reversal with rally potential to $356 area which was previous resistance level on the way up.

    I bought 25 ncm calls and some ALK shares, given ALK should have some drill results in the next few weeks.

    Notwithstanding the above, downside risk is still a possibility.

    Has anyone got an opinion?

    Regards,
    noip
 
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