Watch out closely for this one as it approaches a key level at 2,77$.
If it was to go under that level, it may sounds very bad for Yamana Gold.
I suspect (based on trading pattern) that it may bounce between 2,75 and 2,90 and because it is really close to the key support, short may try to hold it down a bit.
Yamana Gold on the other hand is a great gold producing company and will rebound.
So my entry point is in the 2,80$ish level and exit point near 3.00$ until the next quarterly report is made public ( in about 75 days).
What i do find interesting is the fact that Gold is doing the same and because of the fact inflation seems to be racking in higher than planned, gold is almost ready to shoot up over 1400$.
Yamana is most of the time 1 or 2 days behind gold price so that gives plenty of time to react in one way or the other.
Gold goes up......Yamana will!
Have fun
If it was to go under that level, it may sounds very bad for Yamana Gold.
I suspect (based on trading pattern) that it may bounce between 2,75 and 2,90 and because it is really close to the key support, short may try to hold it down a bit.
Yamana Gold on the other hand is a great gold producing company and will rebound.
So my entry point is in the 2,80$ish level and exit point near 3.00$ until the next quarterly report is made public ( in about 75 days).
What i do find interesting is the fact that Gold is doing the same and because of the fact inflation seems to be racking in higher than planned, gold is almost ready to shoot up over 1400$.
Yamana is most of the time 1 or 2 days behind gold price so that gives plenty of time to react in one way or the other.
Gold goes up......Yamana will!
Have fun
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