BullMarketRun.ca

Gold is off its lows of the day and as of 8:00 am Pacific time is trading unchanged at $1,168…major bullish forces are coming together in Gold, and yesterday we believe was a watershed day as Gold advanced sharply at the same time the U.S. dollar also made a big move to the upside…the CDNX is off 6 points to major support at 1653, its rising 20-day moving average…based on the technical patterns we’ve seen in the CDNX over the past year, this market appears ready for another major move to the upside…Gold Bullion Development (GBB, TSX-V) is off 2.5 cents this morning at 37 cents…John, BMR’s technical analyst, says GBB is in a bullish consolidation phase with Fibonacci retracement levels showing the buy target is between 35 and 37 cents…with everything we know about Gold Bullion, and with Gold itself set to challenge its all-time high and perhaps make a run to $1,300, any weakness at all in GBB must be taken advantage of…another accumulation opportunity continues to be Sidon International Resources (SD, TSX-V) which we are extremely bullish on…technical and fundamental factors are such with Sidon right now that we believe it’s very close to breaking out above resistance at 7 cents…we will have more on Sidon tomorrow…SD is unchanged this morning at 6 cents…Richfield Ventures (RVC, TSX-V) jumped to $2.20 this morning, where there is some resistance, and is currently at $2.17, a 9-cent increase on the day…Seafield Resources (SFF, TSX-V) has pulled back to 19.5 cents this morning, just above its rising 200-day moving average of 18.5 cents where there is extremely strong support…we expect Seafield to bounce back sharply next month as exploration ramps up on its Colombian gold properties…Seafield’s long-term technical uptrend is still very much intact…Kent Exploration (KEX, TSX-V) is strong this morning at 20.5 cents, up half a cent with solid bids…BMR is still in Vancouver, gathering information on several situations including Kent…we’ll be updating our readers on Kent possibly by this evening or at the very latest tomorrow morning…