Gold Prices Set To Increase Further

Sun Herald

Sunday April 29, 2007

By Regina Meani

LARGE BASE: Oceana Gold is one of the top five listed gold producers in Australia with production, development and exploration projects located in New Zealand. A large base has been forming from 2004 with the price facing a final barrier zone between 82 and 92 cents. Resistance at 95 cents and $1.10 may prove pause points before the stock heads towards $1.30 and $2.00. Risk level is 68 cents.

POTENTIALLY HIGHER: Since 2003, a diamond within a diamond has formed on the share price of Equigold, a gold mining and exploration company. The smaller pattern was completed at $1.70 urging the completion of the larger phase at $1.80. Stock may pause and pull back as it approaches the peak at $2.00 before continuing towards $2.35 with further targets to $2.50-$2.75 and potentially towards $3.75-$4.00.

MIDAS TOUCH: Midas Resources is an exploration company with gold projects in Australia, the US and China. A diamond in the share price was completed at 14 cents in December, spurring the recent rise to 35 cents, before stock pulled back. It may consolidate between 19.5-23.5 cents before heading higher to test resistance at 35-40 cents, before gaining targets to 55 cents and 90 cents. The risk would be a breakdown through 14 cents.

© 2007 Sun Herald

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