Yes, but I think some of those shorts are now slowly covering. I can see it from price action.
$1.75 will be a mini resistance but I think that will fall quick because of the insane shorts opening between $1.70-$1.72
$1.78 will be when it really starts running up again, because it will be Short's stop loss (from $1.70-$1.72). Slow and steady please.
A good close today will bring a pattern confirmation, and this should bring about next lot of buyers who are waiting for a confirmation to buy. This is important, especially since bullish harami formed a few days ago. This should push to higher price by end of this week (but hopefully not too fast!!)
Slow and steady.
GXY Price at posting:
$1.75 Sentiment: Buy Disclosure: Held