materials, page-2

Team

RIO FMG and BHP are all trading around their 50% ATR/ATH and coincidentally, so is the materials sector. We ran through the 10,300 level and have pulled back to test it on the weekly. The small overrun of both the 10,300 level and the 50MA is no problem IMO. The coming weeks will be quite important for the materials sector but my positive bias remains. I wouldn't expect to blast through these important levels, some hesitation here is perfectly healthy.

Che che