The comment you make about the charts is something I picked up on years ago.
A chart (for a given time frame) can look tremendous and within a few days, selling can turn it right around, maybe even for the longer term.
That's why it is dangerous to take much notice of a chart,at least,in the current climate.
In a strong bull market charts seem to work. But who needs them then?
Incidently the top chartists,such as Regina Meani, told us that if gold broke $327.50 it was likely to test higher levels. As yet that has not eventuated.
Without any charting knowledge one could say once a certain price level has been broken it is not so likely to frighten the players, in a future upward movement,than if it had not occurred.
That is hardly a profound statement or one that requires examination of a chart.
As always the gold plays should be based on good fundamentals and positive long term market sentiment towards that stock. (A stock with good fundamentals may still be a dog if market sentiment is not with it.)
My own approach has been to cash out of speculative gold plays and be prepared to move out of the "good' ones, if market sentiment is temporarily driving them down, with a view to buying back in at a lower price.
This can also be a risky practice in this choppy market,
as it seems players are jumping in and out of stocks willy nilly to try to make a profit or using very tight stop losses. ie Down one day up the next without any obvious reason. You may in all the confusion just miss out on an upward rating.
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