#WongCapital Drop from the peak 53 sen to 26 sen. Purely goreng counter anything can happen. 17/08/2020 9:23 AM
#WongCapital If gold makes a correction to next support 1815, this counter will go back to 10 sen lol 17/08/2020 9:24 AM
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Which of your counters are flying now? Given the GDP fallen worse than 1998 Asian FInancial Crisis by 54% deeper, what do you expect on the market sentiment although everyone know April ~ June 20 is the worst quarter with most biz are in full lockdown.
What if Gold price broke its resistance and high over its peak? All the bankers / traders / analyst are bullish and their Target Price could as high as USD4,000 nearly double of current level.
In any stock, there is always "IF" , that's why Chart Technical Analysis is crucial to assess it's trend. Otherwise anyone could come out with any "IF".
On 04 Aug, Spot Gold Price broke resistance level 1 - $1,950, NICE price surged from RM0.09 to RM0.22 (gained 144%). On 07 Aug, Spot Gold Price broke ressitance level 2 - $2,020, NICE price surged from RM0.22 to RM0.38 (gained 72%) On 07 Aug, Spot Gold Price peaked at US$2,069.21, NICE Price surged from 0.38 to peak at RM0.51 (gained 34%)
FOllowing similar past trend, where Spot Gold Price is breaking resistance level 1 at US$1,950 where RICE is price at 0.255 should surge 144% to RM0.367 and continue to rise to RM0.631 to peak at RM0.845 once Gold Price break beyond US$2,050.
If NICE is performing at the same rate of past trend, it should rise from current price at RM0.255 to RM0.845, that's a 231% ROI within days. I could be wrong and past performance do not necessarily represent future result, but if the assumption is true, this is too good to miss.
Chart Don't LIE. Look at the chart, it is at historical high of gold trading history for last 30 years, it is currently at resistance level of USD1,950 since last few trading days.
Any sign of gold price breaking up, operators will push the price like crazy. Just know when to sell. Since lots has jumped in already, this could be a good support.
Operator can supress the price as much and as long as they want to. However, they do realise during a gold uptrend, the more they supress, it's like compressing a spring coil. When it rebounds, it will soar in a faster pace than other peers. Also, it's always wiseful for them to let the spring release the tension later in a fast manner (when suddenly NICE outpace others in a swift manner) then only start to do some selling again.
Until that happen, there is nothing should the players who bought in the earlier session do. Just sit back and watch the show.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
menort
1,006 posts
Posted by menort > 2020-08-17 09:38 | Report Abuse
gold price drop. tp now.