AUY (YRI in Canada) has been smashed down today after it hit above his 20 days moving average on friday and now is under his 20 days moving average.
If it can close above 3.17 today (Canadian $) expect a good rebound before quarter results are released on thursday.
If not expect the drop to continue until then.
As far as i am concerned it is oversold and ready for rebound as the latest move is not gold price related but traders related.
But be careful as those movements could be violent!
If it can close above 3.17 today (Canadian $) expect a good rebound before quarter results are released on thursday.
If not expect the drop to continue until then.
As far as i am concerned it is oversold and ready for rebound as the latest move is not gold price related but traders related.
But be careful as those movements could be violent!
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