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August 19, 2009 / Jeb

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.gld

It pulled back since the 3rd trading day of August until today.  I expect an immediate move to to 4.25.

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3 Comments

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  1. Bob / Aug 25 2009 12:59 pm

    There are NGD warrants ‘NGDAF’ that expire in 2017 selling around .38. Patience will be well rewarded in this case… .

    • Anticipate Opportunities / Aug 25 2009 2:45 pm

      Thanks for the information.

  2. shl_junk / Oct 13 2009 4:37 pm

    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%?

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