EVOLUTION MINING LIMITEDUpdated Evolution Mining - Long term hopes are still alive
Whilst the price has dropped down from 3.60, the retracement a little lower than the 50% fib seems to be almost done. The price as bounced off the long term trend line and a previous resistance level (which should now serve as support). For some strange reason, the stock market moves the price of gold miners based on the gold price. I do not agree with this view as most miners hedge their sales at comfortable prices but it is what it is. Henece keep your eyes on gold prices...but also consider the AUD rate, emerging market routs, trade wars and a world not dealing well with change.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.