HG1! copper overnight price movementFor HGO it appears the...

HG1! copper overnight price movement




For HGO it appears the theory of accumulation over the last month is correct. The current move is only at the start of its breakout range. There's more to come.

Notes:
HGO has seen significant price upswing recently. RSI is heading into upper levels indicating further rise but also potential for a rest.
Recent move has created fair value gaps (FVG) closest being 8.1. This may be retested but not always especially where there is strength in a movement and existing under valuation.
Current support (which was old resistance) is 81. History says this will be tested at some stage. See above FVG
EMAs are all rising, specifically EMA43 currently 75 is the support base. Although it varies depending on price movements, every historical chart shows price retest that level at some point - note that this is a moving target and not fixed at 75.
And the obvious, copper HG1 is strong.

HGOs market performance compared to peers. Keep in mind that HGO has only recently (re)started production



Checking out for a bit and probably won't post chart updates until I see something of significance occurs. Good luck to all.