HGO 5.56% 6.8¢ hillgrove resources limited

Copper charts (HG1!)ATM to me, copper charts are indicating a...

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    Copper charts (HG1!)
    https://hotcopper.com.au/data/attachments/6194/6194187-3bc46558f59927c42c010940e915d3b2.jpg
    ATM to me, copper charts are indicating a retest of EMA43 which based on current trend is ~ $4.6. There is selling pressure after RSI entered the overbought indicator on 21/5. I don't see this as being overly out of the ordinary but seems that it could be tied with recent US/China/Russia/Mid East events and returning fears of inflation and higher interest rates. Copper is crucial to the world and is in limited supply compared to needs, IE, just a blip on the short term radar.

    HGO charts
    I've added some notes but otherwise the chart is unchanged
    https://hotcopper.com.au/data/attachments/6194/6194198-3c510339e3e1e16cdc7d3bd58f032b09.jpg

    Charts reflect support of long term trend at ~8.2. EMA43 is currently 7.7 EMA100 is 7.4. Institutional selling pressure was last at 7.8. I think this is the point institutions/larger holders started accumulating - the games.

    My interpretation is that supports at 8.2, 7.7 and 7.4 need to hold otherwise 7.2 and 7.0 become possibilities. Based on buying pressure yesterday at 8.3, I think buyers could be drying up and those supports will become crucial to price action in coming days.
 
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Last trade - 16.10pm 14/06/2024 (20 minute delay) ?
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