bottom close chart says appx 350 fib 0615

  1. 1,201 Posts.
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    bottom is near

    look at chart - suggests around 3.50 is the bottom give or take

    could go lower in 3.40s where there was resistence in the past.

    key resistence i remember from past was 3.68-3.70
    and we're below that now.

    3.40s is possible to be touched and then bounce, BUT....

    I cant help but look at FIBONACCI 0.615 factor

    high was $5.80 * 0.615 = 3.567

    To satisfy 'bar' chart we hit a low of 3.52

    I look at depth now and psychology is that 3.52 satisfies bar chart to be the bottom close enough to 3.50, PLUS traders work on the magic 0.615 fib mark

    depth is looking much better now

    If zn goes down tonight we may see an official close at 3.50, but anyone that looks at chart can see that 3.50 is median for the bottom give or take into the late 3,30s - 3.40s if zinc goes back to re-test 3000 or 2900 bottoming there and then resuming uptrend.

    So at 3.50ish how much downside is there???

    Im considering getting in

    just like everyone else ill wait one more day to see what happens

    prospective buyers like me now have this mentality of waiting to see a trend reversal

    Once this happens, the only way is UP for such a good Zn/lead/silver stock
 
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