Kmn has broken 15 cents resistant with volume and have come back to test the breakout and rejected it going back up to 17 cents.
There are quite a few positives since the last chart posting. The most positive of which is the fact that gold has broken out of resistance of 1000. Not only that it has come back to test it on the way to 1100 which is the intraday high on Friday 6th of Nov us time. Other positive include a change of sentiment toward gold now that it is public knowledge that central banks are buying gold. Also note that Nov and Dec are usually among the most bullish months for gold price. Hence the likelihood that this gold bull will continue in the short term is extremely high.
This gold bull will flow into junior explorer sooner or later. Even if investor don’t invest into juniors you can be certain juniors will be taken over or merged; it is just a matter of when. And when it does watch out for the juniors being so thinly traded and with such low market cap will rocket up like no other bull market. Also with a roaring gold market you can expect that juniors will not be valued from prospective earnings or profits but rather how much gold they have in the ground of which kmn has plenty.
However with all the positives there are negative too. For one snn has not confirm the breakout with it’s resistance of 36 cents still standing. And the stock market has been powering along since Marck without ant meaning correction and when the correction does come gold shares may be affected too.
Cheers Goodoh
KMN Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
