ORV chart - iHnS orv is lagging in the recent rally in the miners.
we're carving out the right shoulder of a slightly slanting iHnS pattern. In a previous ORV chart I posted, I had mentioned that the $0.52 level was strong resistance, and has proven so. We did poke up to $0.54/0.55 to mark the start of the right shoulder formation, which we're currently in.
I'm fairly confident in this pattern playing out in the end as almost every single miner I chart has a very nice iHnS pattern, which multiple having broken out in the past 2 to 3 days (ie. OGC, AUN, ELD, IMG), and many more just about to! Similar thing on HUI, GDX, and GDXJ. Obviously, that's what you'd expect. =)
The breakout point from ORV's HNS is currently $0.52 and declining, as its slanted. Perhaps it'll get to around $0.51 or $0.50 by the time we're about to break out, but that doesn't really matter. The minimum price target after the breakout is $0.75. Overall, the technicals on ORV is a fair bit weaker compared to most other miners I track.