Prom Resources rebounded today after yesterday’s inverted hammer finished the day’s trading. The inverted hammer is a candle known for signaling bullish reversal patters. According to StockChart.com’s definition, “Inverted Hammers represent a potential trend reversal or support levels.”
In a recent press release, the company stated that it will resume shipping gold bearing ore at the rate of 50 kilos per week (one kilo is equivalent to 32.15 troy ounces). Just yesterday, the price of gold reached a record breaking high that hasn’t been attained for approximately 3 decades.
The President of Prom Resources, Dror Moradov, stated, “We are pleased at the continued increase in gold prices, and expect that the increases in estimated proceeds from sales of material will further finance future operations, shipments and working capital.”
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