Lihir Gold December 2000

Lihir Gold December 2000

Gold is looking interesting at present and one of the best looking charts is Lihir. Attached is the weekly chart. You can see clearly a possible double bottom in formation, however it must break the peak in between of 78 cents, which I have marked with the horizontal line, before the double bottom is definitely confirmed. If this happens a new up-trend is then in existence but to re-inforce, it must break 78 cents first !! First target if it breaks is around $1.00. As a final note, EIS is still not bullish on the gold price but you have to trade the chart as it is.

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