BMR’s technical analyst, calls it a “soak-up”https://www.bullmarketrun.com/?p=3208
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Outlook: The chart and the indicators show that we canexpect more consolidation in the handle during next week until theoverbought condition has been completely or largely unwound. Of course,in the midst of a major drill program, there’s always the possibilty ofa pleasant surprise, so we can’t rule out the possibility of morevolatility – in this case with an upward bias given the clues wereceived in Thursday’s news release. The stated support levels shouldhold. This is just another step in the process of
Gold Bullion developing a major deposit at Granada."