Welcome To The VIT Chat Board

The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

Free
Message: McEwen's Jr Gold Index: I Created a P&F Chart so You Can Track Supply/Demand
Reply New Message
Back To Forum List View

McEwen's Jr Gold Index: I Created a P&F Chart so You Can Track Supply/Demand

posted on Jun 27, 2009 10:23AM
There are only two things that will affect the price of an index or stock: Supply or Demand.
When a point and figure chart is in a column of "X's" demand is in control. When it is in
a column of "O's" supply is in control. When a column "X's" exceeds a previous column
of "X's" you are on a double top buy signal. At 4.75 we received the first double top buy
signal since this February. The next area of resistance will be its 68% Fib retracement
at 6.25 and then 7.50 which is its bearish resistance line. Best time to buy is on a pullback
after an initial double top buy signal. We have now pulled back from the buy signal at
4.75 to its present level @ 4.11. Any further pullback should be contained above its 38%
Fib support level at 3.50. Now that you have this chart you can easily update it yourself.
Victoria Gold's stock has been performing pretty much in line with this index that is composed
of what McEwen considers the cream of the crop of junior exploration companies. Victoria's
stocks initial upside target is .75 which represents a 50% Fib retracement from its prior
highs at 1.60. McEwen's index has already achieved its 50% Fib retracement level.
Mc Ewen's Junior Gold Index
10.75 B
10.50 x 0
10.25 x 0
10.00 x x 0
9.75 x 0 x 0
9.50 x 0 x 0
9.25 x A 0
9.00 x x 0 *
8.75 x 0 x 0 x *
8.50 7 0 x 0 2 3 *
8.25 0 x 0 x x 0 *
8.00 8 x 0 1 0 x 0 *
7.75 0 x 0 x 0 x 0 *
7.50 0 9 0 x 0 x 0 6 *
7.25 0 C 0 x 0 x 0 *
7.00 0 4 x 0 *
6.75 0 x 7 *
6.50 0 x 0 *
6.25 5 0 * 68%
6.00 0 *
5.75 0 *
5.50 0 *
5.25 0
5.00 0
4.75 0 6 50%
4.50 0 x x
4.25 0 x A x
4.00 9 x 0 x
3.75 0 x 0 x
3.50 0 x 0 5 38%
3.25 0 B 2
3.50 0 x
3.00 0 x
2.75 0 x
2.50 0 1
2.00 0 x
1.50 0
1.25
07 08 09
3 Recommendations
Reply New Message
Back To Forum List View
Share
Share
New Message
Please login to post a reply