Professor’s Comments February 21, 2014 RGLD
Posted by OMS at February 21st, 2014
At this point, with Royal Gold down over a point, 2 of the 3 PT indicators on the 60s are now negative. The lone holdout is the MACD.
If MACD turns negative, my near term target for RGLD is near the 58-59 level, which is about 7 points below where we are now.
IF gold, the metal, starts to trade lower, Royal could easily traded down to the 55 area or below.
But for now, I’m just watching and waiting for the MACD to turn.
The level to watch for gold, the metal, is 1275. Anything below that level could send gold stocks reeling.
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Category: Professor's Comments