I will do a chart for you. Forex markets are going crazy and I have had my ass handed to me twice trying to pick the bottom of Copper. It looks like Greece is going to do a deal and it is going to be good for the EUR bad for the USD and good for the Copper price so third time is a charm I hope.
Anyhow, You have to go back to the dreamtime. Long before anybody had heard about the WA boys spinning a mining story in Brazil. The 2 candles created by the AVB gods at the very beginning was a blue spinning top with a high of 11.5c and big fat red candle with a low of 7.7c.
These 2 levels created are support and resistance for the most recent moves. There has been 3 significant selloffs at the top of the first candle ever created. You find levels of resistance and support by drawing a horizontal line to the closest highest candle. The last failure was also at the 79% fib. If we break out there will be 2 levels of heavy resistance, 11.5c and 13.5c.
I would like to see a break and then a test of 11.5c before a move up. The trend is clearly up. AVB is putting in higher lows and ready to breakout.
AVB Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
