We all know the long term ABU chart has held well and is forming a short term shallow uptrend just above the long term up trend line.
Looking like positive base building before a stronger uptrend.
Weak markets and gold sector have so far held it back from its typical much stronger rallies that it has had during the exploration season each of the last three years (better than tripling last year to 8c).
However it has held well despite many other juniors performing much worse. The strong cash position and lack of need of future large funding are probably why. Strong results from exploration and the scoping study also helping.
Are the stars now lining up to allow the break out?
The HUI is looking positive. The broad US market is near resistance but looking positive and forming a pattern of stability that led to last years multi month move higher.
The POG is already in break out and should see a more rapid move much higher if it closes above 1640-1650.
One to watch.
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We all know the long term ABU chart has held well and is forming...
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