VALE a junior miner can rise on the Gold bullrun

6 ส.ค. 2023

VALE as a junior miner could be reaosnably expected to follow spot gold.

The bottom line is quite simple. With fixed costs to mine gold, VALE can easily

expect to increase its margins when stop gold rises will above the breakeven

on a spreadsheet. The 2H chart shows price has descended into the support of

the long term anchored mean anchored VWAP line after a VWAP breakdown.

The PMO and ZL MACD are confirmatory for a consolidation sitting on dynamic

support.

Overall, the analysis is that of VALE setup to make a reversal for a bullish move

reflecting the gold run at large. I will take this trade long now.