With crude oil below $66 now, it's really hard for Hardman to get any bullish momentum. In my opinion only positive drilling result of Flamant could drive short term price of Hardman.
All I can see is for Hardman to move sideways and to test support at 1.20 in the coming weeks. Positive news from Flamant may drive Hardman higher and retest 1.55 resistance. However with lack of data coming from Chinquetti and Tiof until the end of the year, I can't see Hardman moving higher than 1.55.
I think we need to focus on the price action right now, that's what really matters. For those who hold for long term, you can just sit back and relax as we know the current price is way below its fair valuation. For short term holders, it may be wise to sell and wait for Flamant news before making long position.
That's my opinion only. Any comment is welcome.
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