I still feel though that if CCJ can hold 35 somehow, in due course we may reverse from here. It needs to get over 40 to be in contention. It needs to be over 45 for near confirmation.
Yesterday CCJ gained a small amount, though not yet over 40. The general markets are looking a bit iffy with once again Recession fears showing its head and spooking a few. But on the flip side, there is no confirmation yet that general markets may tank big time soon. SP 500 is still closer towards its all time high, rather than even the first level of 10% below around 5100. Spot price is still below 80. It needs to get over that, at least from psychological perspective.
Next week or so could be defining for medium term play. Lets hope we see good play, but as always, its best to follow price action rather than assume anything. All the best.
AEE Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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