BVN is one of several active long mining stocks that has pulled back after coming within 1 cent of it’s first target. BVN made a successful backtest of the downtrend line on that pullback and has since moved higher. Like most of the other mining stocks, these pullbacks are healthy behavior as they help to alleviate the near-term overbought conditions and allow for a new set of buyers to enter the stocks. However, do not become complacent on your stops as I still have my suspicions about whether or not the gold & silver stocks have actually put in a solid tradable bottom recently or still have one more thrust to new lows. A move below the recent reaction low of 25.00 would be an objective stop on BVN. Updated 60 minute chart shown.
