Russell, I don't see an uptrend breach at all, as as far as a head and shoulders, it's rather messy and they tend to be a dime a dozen unless they extend on weekly.
In fact, speaking of the weekly chart, OXR has has two horizontal resistances of an ascending triangle dating back 20 months - it's broken through the upper resistance, but the second is intact which to me based on other indicators seems to be the breakout point. Ie. this is a healthy pullback to the breakout point.
On the daily, it now sits at the bottom of a four month rising trend - the make or break is soon, but hasn't happened yet. If it breaks the trend it should also break the resitance of the 20 month ascending triangle. If it rallies, the breakout is confirmed and OXR will have some blue sky to touch. Indicators are looking like they favour this scenario.
The formations with OXR are by no means clean so even these calls could be bent somewhat...
OXR
oxiana limited
will have a good day, page-6
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