NYSE:HMY HARMONY GOLD MNG LTD
This 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.