GBN.V Weekly P&F

The weekly P&F Charts has developed a reversal after the low of 14¢, and is now showing a bullish price objective of 35¢. Whatever bad news the company has to deliver has long been priced in, since last April.

Contrarily, the $USB P&F chart is showing a bullish price objective of 185. As GBN.V is strongly inversely correlated with the long dated treasury bond price, this is not exactly a good sign. But perhaps the bond market requires a sell-off first, before it can reach extremes.

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-F6