BitterSweetMarkets
Short

This HMY Stock is showing relative strength compared to Gold....

NYSE:HMY   HARMONY GOLD MINING COMPANY LTD
35 4 1
This Stock has had a massive run up as the price of Gold             has moved higher. Typically this market retraces 60% to 80% based on years of price action monitoring. Strong Resistance can be found at 4.28 area, which so far has been respected. Minor Resistance before that at 3.62 which is now support must be breached in order for us to follow through and go Short at 3.39. From the high at 4.28 we will go with the 60% retrace and take profit at 1.95. Price's will probably consolidate around this area whilst the Bulls and the Bears battle it out. I will be tracking it carefully, looking for a level to go Long at some point in the future.
I like this illustration. I discovered this today during my research as well!
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Thank you for your comment and support !
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BLOOBERRY BitterSweetMarkets
I hope you don't mind I copied it and paged it in my profile. I changed the description and values a bit, but I linked you to credit. Key note is the Fed interest rates in relation to dollar Strength and properties with Gold.
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I don't mind at all...
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