Ann: Grant of Mining Lease at Brockman Marillana , page-24

re: Ann: Grant of Mining Lease at Brockman Ma... For general interest..

If my charting is correct, I would expect BRM to reach a high point of $2.69 for this current run by close of trading next Monday (11 Jan), if not earlier. If the previous patterns are repeated, a retracement to around the $2.31 level could then be expected before the next upwards surge begins. As it approaches this level, keep an eye on volume and on the Stochastic, or whichever indicators you prefer, to look for early signs of exhaustion in the current upward momentum. I am a long term holder but if I were trading, I would be looking for early confirmation of $2.69 as a sensible exit point, for a later re-entry some 38 cents lower.

Obviously, this scenario does not allow for the impact of any significant announcements in the meantime, which none of us are able to predict with any confidence. You don't want to be caught out in the cold, waiting for a retrace and a lower re-entry, when the announcement on rail hits the airwaves. I certainly won't be risking that!

The price movement from 15 Dec through to today's close has been pretty much as the earlier pitchfork chart indicated, except that I got the speed angle slightly wrong. I assumed the same upward angle as for previous runs, but this time it was not quite as steep, although it has proved just as direct in heading to its target.

All just my opinion of course. Time will tell.
Good luck to us all.

Regards,
Bones