daytrades feb 17 morning ..., page-2

thought I would post this hear as the thread just closed


Morning all,

Did a 2 year weekly XJO chart last night after hearing someone suggest that the market is toppy. Interestingly enough, this chart shows that the market has had a very nice consolidation period the last 2 years post GFC! Is the market ready to head higher, or do we need longer to consolidate?



Some charts

Black Range Resources (BLR)

Huge volume yesterday, the most since back in early 2007. Hit a high of 9.1c yesterday before closing @ 8.3c. Going by that volume, I would expect much more in the tank here. Worth a punt I reckon, with the next two targets 10c (resistance) and then 12-12.5c based on ranges.



Also worth watching is Onesteel (OST)



Have some more charts that I will post soon

Cheers
Kevi