Ramelius Resources (ASX: RMS) –A Tactical Re-Entry Zone?

2 Jul

🟡 Gold-Linked Opportunity: Ramelius Resources (ASX: RMS) – A Tactical Re-Entry Zone?

Context: Ramelius Resources, a mid-tier Aussie gold producer, is showing signs of technical exhaustion after a strong rally from its 2024 lows. With gold prices consolidating and RMS pulling back to a key support zone, this could be a tactical opportunity for shareholders and swing traders alike.

📊 Technical Snapshot:
Current Price: $2.47


Trendline Support: The long-term ascending trendline remains intact, offering a potential re-entry zone for bulls.

Risk-Reward Setup: Defined green/red zones highlight a favorable R:R ratio for those targeting a rebound toward $2.80–$3.00.

🪙 Gold Correlation Insight:
The inset chart shows gold (XAU/USD) stabilizing after a volatile June. If gold resumes its uptrend, RMS could follow suit, given its strong correlation with bullion prices.

🧠 Psychological Angle:
After a 40%+ rally from the $1.78 low, some profit-taking is natural. But this pullback may shake out weak hands before a continuation move.

Watch for sentiment shifts around gold and broader risk appetite—these could be catalysts for RMS’s next leg.

#RMS #Gold #ASX #MJTrading #Forex #Trading #Investment

9 Jul

Dagangan aktif

Perfect time for buyers to enter...

22 Jul

Nota

"After Gold’s surge, RMS is back on track — showing renewed strength with today’s 8% rally.
A solid move from the lows, reclaiming structure and momentum.
If gold holds above key levels, RMS may continue to shine as a leveraged play on bullish sentiment."

📌 Watching for follow-through confirmation over the next sessions.