My Elliott Wave count for BML. BML is in a falling wedge pattern that looks close to completing the wave 2 correction with positive divergence in the MACD and RSI. A break of the upper red trend line projects a target of 28/29c which is the falling wedge projected target which also coincides with the lower area of the blue box which is a Fibonacci projected target for wave 3. The upper level of the box for wave 3 is 38c.
The (e) wave channel sits at 9.3c but does not have to hit this price but could break below 9.3c producing a false breakdown of the wedge before reversing and heading higher and breaking out, which would be extremely bullish.
BML Price at posting:
9.7¢ Sentiment: Hold Disclosure: Held
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