Getting Close to a Major Move in New Gold (NGD)
As gold continues its standoff between buyers and sellers, some miners are giving us a clue by showing us their bullish chart pattern and strong demand. New Gold is demonstrating strength in this market. It is creating a cup and handle formation with good price volume action.
It pulled back since the 3rd trading day of August until today. I expect an immediate move to to 4.25.
There are NGD warrants ‘NGDAF’ that expire in 2017 selling around .38. Patience will be well rewarded in this case… .
Thanks for the information.
Do you have any thoughts on Barrick Gold’s plan to buy 70% stake in the El Morro property in Chile from Xstrata as NGD owns the remaining 30%?