Chart UpdateAmazing how charts can change so quickly. GMTN is up 38% since yesterday's low! The chart has improved greatly and the 90 Day/2 Hour chart shows the first move above the 100 Day SMA (Simple Moving Average) since the financing was announced. This is a huge development and opens up the price to a much larger potential gain in the short term. There is also a chance it retraces back to the .25 US range which will be a big buying opportunity.
Another thing I notice today is that in the US there are some big block purchases, one near 100k shares, and another around 55k shares above or at the ask. I have not seen this behavior in months which tells me the institutions are now re-engaged. Let's see what happens, but don't be surprised to see a 38.5-50% retracement before it resumes above .30 to possibly .44 US.
Also, Gold has turned on a dime (interesting how it happened right at the change to the Dec22 futures contract, and at the Fed news. Resistance will be between 1,780-1,800 US. Look for some retracements but we may have seen the lows in Gold for quite a while!
All the best,