Update on BML and POS charts. BML. Been in a down trend for 2 months now, shown with 8ema staying below the 20sma. However the wick candle on friday did hit the 20sma/median BB. This week could be telling chart wise, the candles need to close above the 8 and 20 to see trend reversal. Is it possible, YES! We are waiting on BOA's, Funding and FID, plus plus. But any of these could easy trace this back to 22, immediately as that is where the selling is starting to stack (but easily taken out!). There is strong support for BML SP at 175, but I was expecting a tail down to 155, capitulation, didn't happen, might happen? but low chance now.
POS. I mentioned 2 months ago that we'd see a retrace back into the 23-24 price area, and that's what happen! The POS did break down for a day due USA debt debacle. But the POS is rising again, see the channel upwards below, also the RSI and MACD are both positive. Next key level 24.80, then 26, then it needs to break upwards of 26 to 30. So this should reflect into all the Aussie silver stocks. As always DYOR, this is just my take. All the best.
BML Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
