while it looks pretty ugly, there is always a silver lining. the bad: the measured move has now well and truly failed, and the hoped for swing point has now been missed.
however, the blue arrow shows that we have just completed a recurring range target, which has both verified support (the descending red line) and also helped to build a descending wedge pattern. this is a bullish pattern, believe it or not, and if we swing north from here we only need to test 36c to confirm the pattern.
my best guess is that the wedge will continue to play out, and then somewhere around the pink triangle we can begin to hope for a breakout. typically, they break north the height of the wedge. the purple arrow shows a rough price target.
hopefully the expected resource report from coffey mining will be the catalyst
RHM Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
