Kimber Resources At Technical Break Point

Kimber Resources (KBX) is a Canada based gold and silver junior miner with developing property in Mexico. It has no monetary fundamentals yet, so technical analysis becomes more important - and Kimber is a chart reader's delight (click to enlarge)

As with so many gold stocks (and technology stocks) the refusal to follow the herd down into the end of the world stampede in March '09 was a dead give away to their imminent and vast outperformance. Just looking at this chart, you had no hint that the market was doing anything in February and March. This quiet base broke violently as gold's climb from July progressed - then the gold correction. A prolonged bull flag pattern ensued with big buying volume and a nice accumulation bias. This flag correction appears to be ending with some nice upside being suggested.