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3.45%

28.0¢ maronan metals limited

looks like it bounced as expected and has now broken out on a...

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Bobbieb

546 Posts.

19

22/08/23

12:57

Post #: 69477324
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Originally posted by PhillW: ↑

Below $22.15 silver loses both the uptrend line from Sep 2022 and the June 2023 low depicted with A and the 0.618 fib support. Most expecting an ABC correction where the final C wave down where A=C corresponds with the 0.786 fib retracement from the Sep 2022 low to the May 2023 high. This area is $21.12 to $21.25 zone. Below that we have a support zone from $21 down to $20.50.

Now silver normally overshoots which has a high probability of occurring if/when the $22.15 level gets broken as that area is a potential double bottom and also has the rising up trend line from the Sep 2022 low.

A bottom in silver becomes a higher probability if/when the price can rally above the B wave high at $25.50ish.

A more short term bearish case eventuates if the March 2023 low ($19.83) is breached.

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looks like it bounced as expected and has now broken out on a shorter timeframe (if you know where to look) and retest underway.

Last edited by Bobbieb: 22/08/23

MMA Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 28.0¢		Change -0.010(3.45%)		Mkt cap ! $44.68M

Open	High	Low	Value	Volume
30.5¢	30.5¢	26.5¢	$36.80K	134.0K

Buyers (Bids)

No.	Vol.	Price($)
2	16851	26.5¢

Sellers (Offers)

Price($)	Vol.	No.
30.5¢	5000	1

View Market Depth

No.	Vol.	Price($)
2	16851	0.265
1	38000	0.260
3	30882	0.255
5	134000	0.250
1	4000	0.245

Price($)	Vol.	No.
0.305	5000	1
0.310	25000	1
0.315	61056	3
0.320	60855	3
0.325	102255	2

Last trade - 16.10pm 07/05/2024 (20 minute delay)


Last 28.0¢			Change -0.010 ( 1.75 %)
Open	High		Low	Volume
28.5¢	28.5¢		26.5¢	11076
Last updated 15.57pm 07/05/2024 ?

MMA (ASX) Chart

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