BRL
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2.45% 79.5¢ bathurst resources limited.

You borrowing IJ's rose-tinted glasses? BRL is in a downtrend...

  1. Moosie_900
    1,065 Posts.
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    05/06/18
    10:12
    Post #: 33494932
    You borrowing IJ's rose-tinted glasses?

    BRL is in a downtrend and descending triangle formation. If the downtrend line broke on high volume then you could say it was bullish. However, as I pointed out last week, very blatantly, the SP again failed (3rd time) to breakout. That strengthens the overall trend.

    I would like you to cite why you think the chart looks bullish, utilising known indicators and reasoning.

    Here's some homework for you on descending triangles: http://stockcharts.com/school/doku....art_patterns:descending_triangle_continuation

    NB - These are continuation patterns (ie the current trend is down, therefore it is more probable that the trend will continue negatively)
    BRL Price at posting: 15.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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