AR Next weekAR ended in a bit of a sour note on Friday
The 4.76% drop to 1.60 is a bit of a reminder of AR's old ways. It was below average compared to other gold miner’s
Many people would have booked profits Thursday and Friday with recent gains.
We’ll have to see if 1.60-1.70 will be a range of resistance or support (support hopefully)
The Commitment of Traders report for gold futures is showing bullish as it is for most metals.
The positive correlation with the SP500 finally ended on Friday. Unfortunately equities won out this week with better than expected bank profits and the postponement of the rate hike (just like gold lol).
The Dow transportation index was down badly on Friday so I’m not expecting good things in equites early next week. Let’s hope gold can pick up.
AR has to break past $3.00 long term in order to be considered a bullish stock.
Good trading