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Categories:General Market Commentary
Gold / Gold Stocks
Disclaimer: I hold a large position in CDE - N.Am. gold (73%) and silver (27%) miner, has minimal exposure to 3rd world country politics. IMO, given 2020 metal prices, P&P reserves greatly undervalued.
Watch the 1 minute chart for giant footprints - late day high volume buying or selling, an indicatator of fund accumulation / distribution. Substantial late day buy orders exceeding several million shares in the last five minutes of trading are an example of an accumulation footprint.
I use the 60 min chart for early range trading signals, entering and exiting trading positions off overbought and oversold signals on this chart, confirmed on daily and weekly charts.
Chart parameters as suggested by S. Weinstein are 2 yr/weekly bars w/30 wk. SMA
1/20/21 One can visually see a strong resistance zone at $11 where x%27s & o%27s reversed direction multiple times. Buy at $8 - $9 Support..
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