AUT chart is looking great. We popped up to crack the 200DMA and...

AUT chart is looking great.

We popped up to crack the 200DMA and test a relatively LT trend on good volume. It's been putting in some right side action since and allowing the MAs to catchup. Now its riding the topside of the 200 and importantly, the 50 has crossed the 200 (the beautiful 'Golden Cross').

Now we're above the 50 and 200 so with the drop in volume, we're set for an explosive move - especially with gold back in the limelight. Would be great if the 21EMA caught up a little faster as when it taps the 21, all the conditions are in. Traders will be delighting in this right now.

Resource update now measured in weeks - not months - so the alignment of TA and FA factors is supreme.

I can see this going much higher in the coming weeks. Those seeking parcels at this price point are going to do very well IMO.

First natural target is the recent high of 7c but beyond that 10c should be a breeze. The throw in a fat resource update (hoping for around 3Moz) and the brokers will get their 21c target in a flash.