Continental Gold is Breaking Out

Continental Gold (CNL.TO) is breaking higher after a multi-week consolidation:

CNL.TO (Daily)

Steady buying since last week's GDXJ rebalance as the selling pressure appears to have lifted - relative strength (RSI at top) confirms this week's breakout.

Steady insider buying adds weight to the quality of this recent upside push:

The C$4.00 level (the level at which NEM made a $100+ million investment) should offer some resistance, followed by C$4.30.

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author's opinions. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It's your money and your responsibility.