The price is at a significant level which is supported by a valid trendline, a multiyear support level (monthly chart) and the 100MA. The chart also formed a bullish engulfing pattern in combination with a high volume right at the support level. The stock is highly negatively correlated with the USD so if the USD further strengthens this will be bad for the stock and the commodity sector in general.
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ATR weekly chart will be used as stopmanagement
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Stop: 2.68AUD