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BMR Evening Alert! - BullMarketRun.com

May 15, 2017

BMR Evening Alert!

The Venture gave some bullish reversal signals last week and jumped out of the gate powerfully this morning, demonstrating that the last half of May is going to be much different for the junior resource market than the first half.

Commodities are also rebounding with WTI closing above the key $48 technical level today.

Historically, “Sell in May and Go Away” has proven to be about the worst possible strategy during Venture bull market years, and 2017 is sure to be no exception.

Higher commodity prices, discoveries and takeovers – they are all “fuel” for the Venture and the tank is quickly refilling!

Today, northwest Quebec and the entire junior sector got a big boost when Eldorado Gold (ELD, TSX) announced a friendly takeover of Integra Gold (ICG, TSX-V), a deal valued at approximately $600 million.

That’s huge validation for Integra’s efforts at its Lamaque Project in Val d’Or, and for all that’s happening in northwest Quebec right now.

Bonterra Resources (BTR, TSX-V) hit a new multi-year high today, closing at 51 cents, and other Quebec plays showed strength including Granada Gold (GGM, TSX-V) just down the Golden Highway from Integra.

GGM, on the verge of confirming a significant technical breakout after closing at 7.5 cents today on total volume of 1.2 million shares (all exchanges), is due to release an important update on its Granada Property any day now.  Given that Integra was obviously undervalued, it’s safe to assume that GGM is, too.

In tonight’s BMR Evening Alert

  • What a difference a week makes – updated Venture chart…
  • The beat of Bonterra
  • Could there be a LONG Bars Zone 2?…
  • The Elephant in Ecuador…

Venture 6-Month Daily Chart

Markets will always take the path of least resistance.  Venture support in the upper 700’s is phenomenal and more powerful in our view than resistance around 850.

Plan for that breakout because at some point in the not-too-distant future, it’s going to happen.  And when it does, look out!

Note how the slide in the Venture from Easter to last Tuesday, almost 8%, very much mirrored the mini-correction in March in terms of its duration and percentage decline, though sell pressure wasn’t nearly as intense.  In each instance, the Index slipped briefly below its rising 200-day moving average (SMA).

What happened last week is that the Venture found support where it should have and by Friday overcame its short-term downtrend line as well as its EMA(8).

Today, the Venture also pushed above its EMA(20) and both exponential moving averages have swung to the upside.

RSI(14) bounced off a strong support level (30%) on the daily chart last week and also formed a “W” while a bullish +DI/-DI cross (ADX indicator) appears imminent.

There are many more great days like today in store for the Venture over the coming months, so enjoy!

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

To read the rest of tonight’s BMR Evening Alert, sign up NOW or login as a current subscriber with your username and password.

1 Comment

  1. Integra shareholders can hold eldorado paper / cash or will be looking for a new home.

    Which stocks look most undervalued ?

    Comment by donald — May 15, 2017 @ 9:06 pm

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