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Yamana Gold, Inc. Message Board

  • client9.nola client9.nola Jul 15, 2013 10:31 AM Flag

    Potential Bottom or A Potential Setup for Another Smackdown?

    Judging from the daily chart, $10.00 is the breakout point and a price rise above that level would suggest a bottom is in. However on the weekly, the 10 EMA is where the options manipulators come in and jam down the price and at about $10.50 is where that could incur. The past most recent occurrences of the breakdown on the Weekly (at the 10 EMA) happened on the weeks of 1/13, 3/18, and 6/13.

    At about mid cycle, of these approximate 2 month sell off points, the 5 EMA weekly served as resistance. We are now 1 month after the recent June smack down and also at the 5 EMA on the weekly and $8.03 being support at the weekly bollinger band bottom.

    I would like to get long the miners but until this pattern is broken, I'll be sitting on the sidelines.

    Sentiment: Sell

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