RRL is seeing pressure because of company specific factors so even if the gold price went up it wouldn't surprise me to see it get sold off tomorrow. I had a feeling the market wouldn't like the quarterly figures but as I was saying in the last post it has taken a day for people to work it out.
Candle being formed today is very bearish and on high volume. Could see it move back to $1.80 quite quickly.
While I expect a medium term boost from covering of excessive short positions, the shorters wouldn't be quaking in their boots after reading those quarterly figures.
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$15.90 |
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