MIN chart, page-1521

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slick

15,679 Posts.

8760

30/05/25

17:03

Post #: 79256156
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Originally posted by tomboy: ↑

closed as a lower red candle with -100c body after -30c lower open
25c neck another long red tail -103c

look at the volume, largest volume since 5 year lows on 9-10 April
volume support showed up
and it hit the 50DMA and bounced right off at 21.56
RSI now at level 48.48 not seen since 18.18 close
MACD at -0.13 not seen since 16.61 close

Back in April we saw 6 days of this high volume that ended up cracking the 5 year lows, but it took 5 trading days
Will take 3-7 trading days to turn the MACD RSI around assuming it can be
this means the shorts want to take out the 50dma 21.50 and run it to that 20-21 rounding top pattern completion area & 2 days in a row theyve hit lower lows intra day

the traders are trying to pick the daily lows, basically gambling as toss a coin and the global shorts are trying to collapse it with volume and sharp quick moves to hit stop losses
miss 10 minutes and its moved 50c !
retailers using the 24min asx delay are total mushrooms here & cannot compete at all.

Need to see some reversal candles and dojis with a flooring pattern
nowhere near that yet so will see more volatile 100c - 200c range days and short attacks imho

Its traders & shorts heaven and hell. They are both making moolah.
For LONGS this is pure torture especially those holding from 40-90 & trying to average down.

It looks bearish on TA and dangerous for a LONG here
Yes slick is the johnny come lately and confirms my prior call, wait and see, wait for the reversal TA & the flooring pattern

Trading Rule 3
never buy on the way down
dont catch the falling knife
wait for the floor, it will be boringly obvious with no interest & spike out moves
buy on the way up in a defined rising pattern

SHORTS & HFT TRADERS are in control here.

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So I'm a "johnny come lately" ? Strewth, ah well, spose I've been called worse.

Strange though, here I was thinking that I'd been posting on MIN for many years now, I must be mistaken.

Cheers

MIN Price at posting: $22.19 Sentiment: None Disclosure: Not Held
6 Upvote

0 Great analysis

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(20min delay)
Last $23.49		Change -0.410(1.72%)		Mkt cap ! $4.612B

Open	High	Low	Value	Volume
$23.52	$24.29	$22.95	$50.16M	2.123M

Buyers (Bids)

No.	Vol.	Price($)
7	1325	$23.48

Sellers (Offers)

Price($)	Vol.	No.
$23.50	467	11

View Market Depth

No.	Vol.	Price($)
7	1447	23.480
12	19693	23.470
9	1294	23.460
4	1032	23.450
4	2129	23.440

Price($)	Vol.	No.
23.500	740	12
23.510	1756	13
23.520	1632	12
23.530	3168	8
23.540	987	4

Last trade - 15.56pm 16/06/2025 (20 minute delay)

MIN (ASX) Chart

MIN chart, page-1521

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