Pretty pleased with today's results seeing the All Ords had a down day, NGF consolidating at 12 cents, hope this forms some support now for a run up. LGL made more ground up another two cents to close at $3.19. The US$ gold price has been trading between $890 and $900 for the past 24 hours any upward movement will see LGL clear $3.20 which is resistance at the moment, once it clears $3.20, the next stop is around $3.60.
The is a distinct possibility that this trade could be far more profitable and well exceed $3.60, lets see how it pans out.(click the above chart for a larger look, clearly trading up within a channel along with a familiar elliot wave pattern in place)
Watched the cricket tonight not a great game but we managed to beat those Kiwis again.
I am looking at putting some money into PAN, if and when commodities recover I do believe nickel will lead, nickel inventories on the LME seem to be stable and the nickel price is slowly moving up, a risky trade but PAN has not been this low for years its up 10% in almost a week so today's close at 82.5 cents could be a good opportunity will check the nickel price in the morning.