We forgot to look at the xmj chart. Excellent positive divergence of RSI and MACD.
There is fresh air to the right side of the chart that needs to be filled and looks like it will.
Tapping on the 8800 level for past month, wants to push through it. And guess what, BHP (the leader of the pack) is coming up for dividend and 5-6 billion profit announcement for past 6 months and a spin off of South32 to give to existing shareholders free of charge. So, what is that going to do to XMJ? It is going to push her up past 8800. And that is going to propel commodities higher into February. And it makes sense because the timing is right for it. A rally in energy (oil) and commodities is coming. I like it. You could even argue a Head & Shoulders pattern on the XMJ. With potential of 9500+
We forgot to look at the xmj chart. Excellent positive...
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Last
$22.41 |
Change
-0.210(0.93%) |
Mkt cap ! $68.99B | |||
| Open | High | Low | Value | Volume |
| $22.36 | $22.61 | $22.30 | $82.59M | 3.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $22.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.42 | 11435 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |