Blackrock Mining Trust 572p is up 137% over the last 12 months. Blackrock Mining Trust has returned 543% over 10 years. BlackRock Gold hit a peak 775p in 2008 before the price fall 75% to below 200p
The fund hit a NEW peak on Monday 11th Jan 2010 at 590p.The current indicators are pointing to a fall in the price. Macd and RSI both turning down. BB 510-600p. Similar setup saw the fund fall 14% in June and 12% in October to 480p at the start of November. Recent Low was 520p on 9th December. A Buy opportunity @ 520p may be available in the first 2 weeks of February.
I would wait for the price to come back to 480-520p. Set a Stop at 440p and a target price of 700p.
If the fund price breaks below 200ema(460p) and can not get back above and stay there over the next 20 days, then that should be the trigger to SELL your holdings.
Sunday, 17 January 2010
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