White Gold Likely to Reverse to Upside


Technical analyst Clive Maund charts White Gold and explains why the bullish quantity on this junior suggests it would most likely reverse to the upside quickly.

Though the consolidation sample in White Gold Corp. (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) has dragged on for longer than we anticipated and it’s a shade decrease than when we final went for it early in February, the technical situation of the inventory has improved, particularly in current weeks.

On the most recent six-month chart we will see that it has trended sideways to barely down since early February however in current weeks the Accumulation line (and On-balance Quantity, not proven, which is stronger nonetheless) has trended increased and it didn’t even drop on the value dip of current days and really rose as a bull hammer fashioned on Friday when it dug into help. That is bullish quantity motion that implies it would most likely reverse to the upside instantly.

Clive Maund chart for White Gold Corp

We due to this fact keep lengthy and it is a good level so as to add to positions or make new purchases. The long-term outlook for White Gold could be very optimistic.

Go to the White Gold Corp. web site.

White Gold closed at C$0.63, $0.50 on 1st April 22.

Initially posted on CliveMaund.com on third April 22.

Clive Maund has been president of www.clivemaund.com, a profitable useful resource sector web site, since its inception in 2003. He has 30 years of expertise in technical evaluation and has labored for banks, commodity brokers and stockbrokers within the Metropolis of London. He holds a diploma in technical evaluation from the UK Society of Technical Analysts. He lives in southern Chile.


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Disclosures

1) Statements and opinions expressed are the opinions of Clive Maund and never of Streetwise Experiences or its officers. Clive Maund is wholly chargeable for the validity of the statements. Streetwise Experiences was not concerned within the content material preparation. Clive Maund was not paid by Streetwise Experiences LLC for this text. Streetwise Experiences was not paid by the creator to publish or syndicate this text. Further Clive Maund disclosures are listed under.

2) The next firms talked about on this article are billboard sponsors of Streetwise Experiences: White Gold Corp. Click on right here for vital disclosures about sponsor charges. As of the date of this text, an affiliate of Streetwise Experiences has a consulting relationship with White Gold Corp. Please click on right here for extra info. The knowledge offered above is for informational functions solely and isn’t a advice to purchase or promote any safety.

3) This text doesn’t represent funding recommendation. Every reader is inspired to seek the advice of together with his or her particular person monetary skilled and any motion a reader takes on account of info offered right here is his or her personal accountability. By opening this web page, every reader accepts and agrees to Streetwise Experiences’ phrases of use and full authorized disclaimer. This text just isn’t a solicitation for funding. Streetwise Experiences doesn’t render normal or particular funding recommendation and the data on Streetwise Experiences shouldn’t be thought of a advice to purchase or promote any safety. Streetwise Experiences doesn’t endorse or suggest the enterprise, merchandise, companies or securities of any firm talked about on Streetwise Experiences.

4) Sometimes, Streetwise Experiences LLC and its administrators, officers, staff or members of their households, in addition to individuals interviewed for articles and interviews on the positioning, might have an extended or quick place in securities talked about. Administrators, officers, staff or members of their instant households are prohibited from making purchases and/or gross sales of these securities within the open market or in any other case from the time of the choice to publish an article till three enterprise days after the publication of the article. The foregoing prohibition doesn’t apply to articles that in substance solely restate beforehand printed firm releases. As of the date of this text, officers and/or staff of Streetwise Experiences LLC (together with members of their family) personal securities of White Gold Corp., an organization talked about on this article.

Charts offered by the creator.

CliveMaund.com Disclosures

The above represents the opinion and evaluation of Mr Maund, based mostly on information out there to him, on the time of writing. Mr. Maund’s opinions are his personal, and aren’t a advice or a suggestion to purchase or promote securities. Mr. Maund is an impartial analyst who receives no compensation of any sort from any teams, people or firms talked about in his studies. As buying and selling and investing in any monetary markets might contain critical danger of loss, Mr. Maund recommends that you just seek the advice of with a professional funding advisor, one licensed by applicable regulatory businesses in your authorized jurisdiction and do your individual due diligence and analysis when making any type of a transaction with monetary ramifications. Though a professional and skilled inventory market analyst, Clive Maund just isn’t a Registered Securities Advisor. Due to this fact Mr. Maund’s opinions available on the market and shares can solely be construed as a solicitation to purchase and promote securities when they’re topic to the prior approval and endorsement of a Registered Securities Advisor working in accordance with the suitable rules in your space of jurisdiction.

 

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