MIN 4.81% $30.65 mineral resources limited

MIN chart, page-135

  1. 9,945 Posts.
    lightbulb Created with Sketch. 4301
    Stage 3 rounding top zone that I called months ago of 53-56 is still in play.
    Ledge has been hit around 54-56
    the CLIFF FACE has ended and a flooring pattern has taken shape

    positive signs now but the lows are normally in end July and sept/oct so the SHORTS aint done yet imho.
    SHORTS may try another move lower and then the usual DC bounce in August and more lows in Sept/Oct
    They try to sux in the BULL in their BULL TRAP

    BULL TRAP SPRUNG
    Theyve made a whopping $25 profit on this drop from 79. So have strength in the downside still.
    If this ledge can hold another 3-6 weeks we should see a DCB in Aug and then lows again in Sept/Oct imho.
    Cant see any real change for a while.
    However it may be getting close to the BUYZONE time once the BEAR SEASON is over on 1 November.

    MINRES has lost a whopping $5B since the $15M POS deal for a new LI HB was repudiated.
    It also lost a $20B gain on the AGO bid deal before that which Gina swept up easy.
    Market not happy with these outcomes clearly.

    If 53-56 can hold for 4-6 weeks it may signal the BUYZONE area is ready and the SHORTS have failed to drop it further and the floor has been found.
    Wait to see, patience is a virtue.
 
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Last trade - 16.10pm 06/09/2024 (20 minute delay) ?
MIN (ASX) Chart
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