It is very simply the overwhelming force of the rising oil price. The doomsayers and bears will not overcome this force, particularly, as it trends higher. MRM have been saved by the bell ( opec ) in my opinion. My earlier prediction of grinding higher will now come to fruition. Good news will soon begin to flow.
Volume on the sell side will dry up soon and the opportunity to buy at depressed prices short lived.
MRM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held