15c was support for a long time until late April this year and the mini US crisis. As the chart indicates 15c is now resistance - surprise surprise there punters!
In my opinion 15c is an incredibly key level for the mighty ELK.
Once a close above 15c is achieved a beautiful looking long term saucer pattern comes into play.
In other words - she breaks and holds above 15c and we are on our way to breaking 45c - and a target in the mid 70's.....
Some time away yet clearly - time will tell if I am right.
One thing is for sure, the ELK has promise, we all like today's announcement, and that OBV is highly encouraging and indicates how tightly held this one is.
Today cold prove to be a massive turning point for the ELK punters.
Good luck to all good ELK folk!
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