Last week I made an analysis on EGLD. Here I discussed the movement after the big sell-off we saw then, with a target at $240.
As of this week, we've shot far over the initial $240 target, even hitting $300 at some point. With the market seeing some minor bearish pressure at the moment, EGLD has given away most of its gains and is now trading downwards.
I'm expecting one or two more days of bearish pressure for EGLD. I'm expecting the area between $200 - $240 to function as reversal area.
Near term target is the $300 resistance, potentially shooting up till $350.