BullMarketRun.com

Gold continues to show some strength early this morning and as of 5:00 am Pacific time is trading at $1,080, up $2 per ounce…technical analyst Clive Maund is bearish on commodities and the overall markets at the moment but admits in an article this morning that there are some conflicting signals and that a potential bullish falling wedge has formed on the gold chart…a major “buy” signal would be triggered if gold were to move past $1,120 an ounce and break out of this falling wedge pattern…we’ll be watching very closely which way the CDNX turns…we’ll have more on this tomorrow, but a move past 1,500 on the Index would be interpreted as technically very bullish and a move below last Friday’s low of 1,429 would be an all-out sell signal…we remain firmly in the bullish camp given the fact the CDNX has so dramatically out-performed gold and the TSX Gold Index over the past two-and-a-half months…we are working on some interesting potential resource numbers with regard to Gold Bullion Development’s (GBB, TSX-V) Granada Gold Property after mineralization length, width and thickness measurements were provided in Monday’s news release…we’ll have more on this soon but we believe Gold Bullion has theoretically nearly tripled the 1994 non-compliant resource estimate of 280,000 ounces for Granada…keep in mind that estimate was based on a confined small area that represents only about 4% of the company’s current land package which has been expanded signficantly around the Granada Mine…