My take on it is: the price is making a normal retest of new, recently established, support level of 8.8c. I expect a resumption of the uptrend at or above that level. Stochastic is in the "oversold" area and MACD whilst having crossed over is still in positive territory - normal in a healthy retracement to new support level.
Nice action on the spot gold price as I type; up $US21.20
I halved my holding of RAU's recently at 11c and plan to buy them back Friday morning. To me, likely downside risk is now small at less than 10%. Having said that, a close <8.6c will see me exit.
DYOR folks.
BIG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.