Aussiebulls.comDYNASTY METALS AUSTRALIA ORD ASX Daily...

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DYNASTY METALS AUSTRALIA ORD
ASX Daily Commentary

Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 05.31.2011 (6) days ago, when the price was 0.1900. Since then DMA.AX has gained 2.63% .

BUY-IF is confirmed by a white candlestick which has an open equal to the previous close but closing higher. The buying price is the previous close ( 0.1800 ) according to the Rules of Confirmation.

Patience pays off. The market wavered a bit but finally confirmed the recent bullish formation. The dose of the previous day was not enough for a BUY-IF confirmation but today it is. Though the market opened lower today, the days activity created a white candlestick that closed above the previous close. This is a valid confirmation criterion. The market seems ready for a new bullish move.

If you bought, continue to hold this until the confirmation of the next SELL-IF signal. You are on relatively safe grounds as long as the future prices continue to trade above the benchmark price and if an emergency warning is not issued. What to do if you did not buy? Maybe you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well, it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.

The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any. We erred on the short side last time but we hope that this is just an exception.

BUY CONFIRMED

Today's Candlestick Patterns: White Marubozu

Today a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade.

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