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From the "UPS" thread...
Master RSI - 6 Feb '23 - 09:43 - 104 of 105
UPS
CEY 104.10p ( 104 v 104.20p )
Reaching the lows lately since last Friday, Gold is recovering today. Indicators signaling the bounce, MACD at maximum low, RSI at lower and flattening, Stochastic at oversold and Share price under Lower Bollinger Band meaning buy.
Chart ...... https://i.postimg.cc/WbSsZZf2/big.gif
I don't understand a word of any of that. What I do know is Q1 results are going to be a bit disappointing but Q2, 3 and 4 much better.
3Bear
re - me no understand
One thing is for certain,
The BULLs are going to get YOU
re - What I do know
Look for cover
the bear drop is over
Intraday chart... https://uk.advfn.com/p.php?pid=staticchart&s=L%5ECEY&width=475&height=330&p=0&t=1&cb=
105.10p +0.65p
106p +1.55p
Two days of overrun drops were the signal of bounce back this morning
Since is going places on reaching 106p already from the low of 103.65p very early this morning
3 days chart.... https://uk.advfn.com/p.php?pid=chartscreenshot&u=WfPYbsI2Vt4yxwRx8Sk4DcRCrpPzCKFUPC5iQUO866c=
Fair enough, not really bothered by intraday movements.
I agree, lets hope that the bounce in POG and Centamin is is a bit more sustainable this time!
For any bounce or drop there's needs to be a reason and not a chart says so- the amount of times i hear "gap filled", "it's on the..." and so- gold can only go up or down so of course it's right from time to time - but it's events that create the moves, and these ever ya are reflected in the charts - trading on data points and markers gives the best chance- eg dump of the stella NFP Friday for example. I've said this so many times over the years- equally RNS cause moves- the rest eg endless speculation outside of this, twitter birds etc does **** all to the SP. Mining stocks are so linked to their commodities that sentiment also plays a big part
105.45p +1p
The Last Pattern: BULLISH HARAMI
"A bullish harami is a candlestick chart indicator suggesting that a bearish trend may be coming to end.
Some investors may look at a bullish harami as a good sign that they should enter a long position on an asset."
Chart with points ... https://uk.advfn.com/p.php?pid=chartscreenshot&u=PGaHtvNyoob4uRg%2BtFGOtWQeUEvp52zEDDTkpaxNjr0%3D
If charts work for you that's great. For me, they record the past in forensic detail which is worse than useless when I'm trying to figure out what's happening next year in Sukari and Doropo.
106.30p +0.85p
You do it your way, never mind your "bear" thinking.
It works for me short term naturally those lovely CHARTS.
You are relying on News, but everyone can read the news just like you.
Gold $1,886.85 +7.35
So let's get up to date...
106.55p +1.10p
Despite the Gold price losing all the sparkle just now after being $8 up earlier on, at least the share price is continuing the bounce, around the best of the day
Why did the large drop late last week?
The order book follows the Indicators very closely and as they are approaching the Oversold or Overbought territories, the "BOLT" at the order book, overruns one way or another, UP or DOWN.
That was the case late last week
chart of the drop ...https://uk.advfn.com/p.php?pid=chartscreenshot&u=MgTQOLOlS5h%20JPxHi6HhuqyyBfwCd%20HVlcFdFbfYCjI=
No I'm trying to work out what's behind the news, like last years Q1 when the AISC soared up to 1558 and SP tanked - that's news, behind the news was the next three quarters were always going to be better so I bought in big time all the way down to 75 without any charts. If you're successfully making intraday gains fine and dandy. I'm looking at a bigger picture. Neither method is wrong.
bear
I am NOT an intraday trader for your desire to know the right thing.
But a shareholder for the term of the TREND UP keeps going UP.
I considered myself good enough to spot those TRENDS for some time now, naturally using chart Indicators.
Sorry to say you are missing the boat at my good selected point.
107.45p +2p
Hi 3bear & Master,
We can all learn from one another's experiences in all walks of life, as far as investment decisions go there is certainly a plethora of different techniques including algorithmic programmes and various charts for predicting how the market may move, no doubt some appear to work well or better than others some of the time, although not all of the time!, but that said to a large extent success or failure depends on luck, unless of course you have access to the inner circle of the market cartel or sit on the company BOD!
mrtibbles
re - have access to the inner circle of the market cartel or sit on the company BOD!
You forgot to say... " on possession of a Crystal Ball " or " a dream the night before"
Jokingly .. certainly not a "wet dream"
Happy to say GOLD is up again $1,887.80 +8.30 (+0.44%)
I see 1877 but like your optimism MasterRSI.
Crystal Ball ,I like that, or maybe Gypsy Tea Leaves.
GLA, It will sort out .GP will rise once the FEDs annualised amendment to Job increases passes through,and becomes just more History. Kitco is very informative.
re - 1877
yes but still +$8.64
My $1,887.80 +8.30 is the Gold futures
Hi Master,
Yes, absolutely a crystal ball if only, or a desert mirage the day before showing the crack in Sukari open pit wall!
Re-Mr Bonds post-
Kitco News) Markets are looking for the Federal Reserve to wrap up its tightening cycle as inflation decelerates. But not all agree with this premise. Goehring & Rozencwajg sees inflation as a decade-long problem that will trigger new record-high prices in gold.
Gold will play a massive catch-up game to the commodity complex this year as prices rise above $2,050 an ounce, Goehring & Rozencwajg managing partner Leigh Goehring told Kitco News. "Gold is going to hit record highs this year. In August of 2020, we peaked at $2,050, and then again in March 2022. This year we're going to break through the all-time high," Goehring said. "It's time for people to want to be bullish on gold. Since 2020, the average oil indices are up 200%, and the GDX at one point was down almost 35% from its 2020 peak."
Gold will see this massive surge because the Fed is ending its aggressive tightening cycle, and the market is not pricing in inflation correctly. "The Fed will stop raising rates, and then we'll get another big inflation problem. This is the decade of inflation. The Fed will stop raising rates and maybe even begin to lower them, but something else is going to happen that will kick off another spiral in inflationary psychology," Goehring described.
https://www.kitco.com/news/2023-02-01/This-is-the-big-2023-shocker-that-will-get-gold-price-to-record-highs-this-year-Goehring-Rozencwajg.html
As for gold: I wondered if another leg up would happen before the pullback that I had suggested since $1925 finally materialized. I thought the price would find support at $1885, but sellers cut through seamlessly,
https://www.kitco.com/commentaries/2023-02-07/Stocks-steady-while-metals-smashed-What-gives.html?spot_im_redirect_source=pitc
106.60p +1.15 (1.09%) ( a lower closing price due to 1 1.1M UT trade )
The 4 days chart shows the trend has changed ...... https://uk.advfn.com/p.php?pid=chartscreenshot&u=ReVJi3zvxGTd6YfpdQUXvqJQLuFCU5TWeTBZlJZrz4E=
Lovely opening on the share price up to 108.10p. but had to go back to yesterday's closing spread and start again on the way up.
Gold price on the rise - XAU/USD $1,885.30 +11.49 +0.61%, which will further help on the UPtrend.
MasterRSi just interested, what is your chart indicating now?