Well I must say I think last weeks price action augers well for one last dip to new lows. The RSI has turned back down and a new low in the sp would most likey be accompanied by a higher low in the RSI setting up a nice bullish divergence. Last weeks candle on the weekly chart looks weak while the monthly chart still looks to have some downside before a reversal.
As for gold, I personally think a lower top will come in this week to start off a large correction. The initial drop in the gold price may be the catalyst for the drop to new lows but after that I don't think it will have much effect. After all, the sp of CHN has been dropping while the gold price is rising and even if you lop of a couple hundred dollars from the gold price CHN is still el cheapo.
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Last
$1.81 |
Change
-0.005(0.28%) |
Mkt cap ! $704.1M | |||
| Open | High | Low | Value | Volume |
| $1.78 | $1.86 | $1.76 | $7.489M | 4.131M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 540 | $1.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 13037 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| CHN (ASX) Chart |