what does your chart say fero , page-62

Hi Everyone,

Update to chart as something significant happened today.
Unfortunately it stopped out today and SIROC crossed downwards yesterday indicating the upleg has failed.

The market hasnt been kind but still think it has held up well considering the rest of the market. THe bounce in the XJO still hasnt happened, oil has come down a bit which is good but copper price has backed off which isnt good for CUO ( although share price moves are never proportionate with the copper price moves, always takes a bigger hit than the actual drop).

So where to from here?

Well at a stop loss you would normally sell out and then sit back and wait for the next entry. In most cases after the stop being hit it goes lower( not always but usually, have attached a longer term chart so you can look back at previous stops). Its not far off the bottom so hopefully if it does drop it wont be much.

Still think a lot depends on the general market at the moment and its still pretty negative.

If people are interested will post another chart when the upleg starts again.

Cheers Fero