B2 Gold 20130917

Update on our stock options:

• Established support at 2.50 broke previous support at 2.66 but still far away from very low support of 1.87 marked last June 28
• We might expect positive sentiments at the end of the month if we produce the "target" (not budgeted) ounces for the 3Q
• B2 Gold reacts to the recent gold price action (refer to Fig. 2)
• @ $1360, while gold price is on range, sentiments were mixed as evident by the volume and the candlesticks, market is anticipating if it could reach resistance @ $1400
• After breaking $1400, not enough drive to push price further and so gold price went down again pushing back at $1320 where B2 Gold marked its support at 2.50
• Additional evidence for the downtrend is the crossover of sellers over buyers on the ADX (Directional Movement) plus RSI and MACD indicators

Fig. 1 B2 Gold Stock Chart
courtesy of stockcharts.com

Fig. 2 B2 Gold Price vs Gold Price
courtesy of stockcharts.com and kitco.com

Still a long way to Apr 2014...


Cheers!