medium term price, page-16

blueballs,

yes, there is strong support at $24, and under normal market conditions worthy of a punt at those levels.

But over the previous 2-3 weeks ive seen many resources stocks fall through strong support levels, then continue the fall into the abyss.

I need to see more evidence of a bounce before i enter. i.e a double bottom at $24, with favourable indicators, followed by a move above the interim peak to a new high.

I may not get in at the bottom, and perhaps i ask too much before entry, but at least i wont get burnt.