The major support level is 72c based on the commencement of the rally in Dec 06 and the March 07 sell-off. Drawing a line between these two points gives us that 72c support. In the short term, the support is 92c with the linkage points being the commencement of the head and shoulders formation in late April 07 and the 92c support at the end of May 07. Short term, if 92c doesn't hold, then it will be extremely bearish with low 80's providing mid-support amd major support at 72c based on what I said at the start of this post. This is all just technical analysis which can be blown out of the water with a fundamental announcement eg. fantastic drill results etc, but it is best to go with high probability outcomes rather than wishful thinking. Technical analysis of AGM has stood me in good stead selling at near the peak so I see no reason to doubt my technical analysis now. Nickel very volatile tonight in London and down just over 5% as I type. It will be interesting to see what the US does later.
AGM Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
