It certainly seems an age since JG's broadcast on Tuesday. Like most of you I was initially disappointed at Tuesdays action, but now realise that there was a large range of stock over hanging the market and it was good to see this cleared out Tuesday.
Remembering that small gold stocks are in a bear market, the rest of the week can be considered a consolidation of the move Tuesday, on relatively light volume. The technicals are looking good, the BB has turned upwards and This is a good sign, with the top band on the daily now 8. The MACD, having turned up some weeks ago is now in positive territory, and while the STO got overbought Tuesday and turned down, it is still looking okay.
With that article appearing this weekend , we might just see some new buying coning in this week.
MYG Price at posting:
7.7¢ Sentiment: LT Buy Disclosure: Held
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