Daily update for 20/5/21
Range:
Bottom range only: 324, probably 326.
GXY:
Note the weakly formed declining wedge. I expect GXY to hit the bottom of the wedge between 324-330 and bounce up breaking the wedge upwards today. We are expecting a climb to somewhere between 370-385, then a reversal back down.
This is lower at this point than we were expecting, however. The final target for this correction is anticipated at being somewhere between 290 and 316, so it is possible GXY will continue down to that point, and then commence the climb, but it would be a little too clean and we the corrective wave would be unusually fast with little room for profit by the market manipulators, so this seems unlikely and would not fit the pattern of previous corrections.
As of this posting the pre-market pricing difference between GXY and ORE is unsustainable and either GXY has to rise or ORE has to fall, unless the two shares are suddenly not trading as two sides of the one coin.
ORE:
10 Day chart
Note the flag formation on ORE. Implies a rise. GXY has a pattern that is either a flag or a inverted flag and can not be determined at this stage.
