@LizzyBee, it appears a trader(s) left on closing auction last night. Possibly expecting gold to slide further over night which hasn't happened. In fact the opposite has occurred and gold had a good night. BLK should open at 1.1 today and thus the seller(s) in closing auction from yesterday will be gone for good as they will not re-enter above their sell price.
What Erks me is why these sellers didn't sell into the 50million units at 1 cent on the buy side during trade and wait to sell in closing auction at less than what the market was paying throughout the day.
Whoever left yesterday on close has done themselves a disservice as I think we will trade above 1.0 cent today.
This is why we need a share consolidation sooner rather than later as a 1 pip move here is the difference of 10% giving traders an incentive to sell down hoping they can rinse and repeat.
BLK Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
