$1800 (thereabouts) is a very strong resistance level so hopefully he keeps bouncing off this and heads back up to $2000+...If it breaks through this hard it could be headed back to $1600...Not sure if $MGV is as tied to the Gold price as some believe...IMO I believe that $MGV is being bought heavily by instos (investors & potential acquirers) and the price is being worked down with consistent selling by retail holders. Some other instos selling over the last couple of months would also be taking profits...
Read an article yesterday in Fin Review where Bill Beament (Northern Star - $NST) states that he believes the Gold price will bounce back very, very hard as the financial realities of the recovery from COVID-19 start to bite.
Cheers
Matt
$1800 (thereabouts) is a very strong resistance level so...
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