Indeed the spike in shorting at these prices is concerning....

Indeed the spike in shorting at these prices is concerning.

Shorts are rarely "dumb money".

Hopefully the spike is just a knee jerk reaction to the martial law and not reflective of any operational issues (although an official announcement of delays in the shaft development would probably also be negative for the market). So the low for MML may not be in yet.

The positive is that the gold price seems to have moved away from its support levels and made another higher low, keeping the bullish move in tact.