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Wednesday, October 31, 2012

GOLD -- $GOLD $AUY $GG $RGLD

(Click chart to enlarge)
 Yamana is my favorite gold play right now.  Beautiful breakout today, MACD crossing and hist should be positive soon.  Had a nice consolidation period of about a month and now the moving averages and stock is moving higher.  Excellent volume to couple with this move, and this is a multi year breakout. 


Rangold is also looking decent.  Nice bull flag forming, but I'd like to see this one above the moving averages and break out of this channel before pulling the trigger.  MACD also looking like it should cross over soon. 


Goldcorp is a long time favorite of mine.  I've been watching the flag for about 2 weeks now, waiting for a long entry.  However, I did not like that gap today. I would have much prefered a gap down or a flat open and a fade up to the current price to intiate a long position.  Still on watch.


Royal Gold is probably my least favorite out of the gold plays.  A possible HnS could form if it cant take out the highs, and they also report earnings tomorrow.  If it breaks below the trendline, 80 (previous breakout) and 75 (200MA) would be good spots to take a look for an entry.

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