BML (ASX) New Chart Analysis Thread

Originally posted by PhillW: ↑

In your haste to try and sell me on the relevance of your line charts you have chosen a 2021 example that promotes my base metals bullish outlook.

Well, at least your $100 subscription service provides the price data, unlike yourself, even though the article appears to be from 2021 and was projecting $60 silver in 2023 and also an increasing base metals and silver price over the next decade. A total waste of money on your behalf because you have been down ramping base metal prices which is contrary to what the subscription service provided.

You state you know the significance of daily/weekly/monthly charts but to me the relevance seems to go well over your head. If you did in fact know the relevance and were an active trader that makes a living from their trading you would recognise the significance of all three time periods achieving bullish alignment at the same time. BML just needs a weekly close at 12c or higher. By the way, the last time BML had a monthly MACD buy signal cross was July 2020.

As for your line charts, I will put it into perspective for you! The line chart is the most simplistic way of dumbing down a chart so that the lowest common denominator can recognise the implied data. If you honestly believe that your line chart you provided, with no price data provides more information than the chart I provided, then you are either (I will let you fill in the blanks). I challenge you to find reference to a well respected trader that takes entry and exit signals using a line chart. Your line chart did not show three uptrend channels, one of which has been broken. Why, well I suspect you chose the line chart because it does not readily indicate that the USD has broken its uptrend channel and wanted a chart that fitted with your bullish prognosis. The fact that you chose not to provide price data, in the hope that most would take your chart on face value shows that you are doing your best to promote your own biased agenda. The fact that I reposted your chart with my original projected target zone that clearly shows that the trend channel you drew intersects one of my downside targets is misleading and that is putting it nicely. After all, you stated that I was overly bearish but posted a line chart showing your bottom trend line intersecting my target zone. Now I will let you in on a little traders secret! When you have confluence of multiple indicators/patterns/support/resistance zones, then the more confluence supporting ones projections increases the probability of such an outcome!

Noting that we have not broken below 100 on the DXY we do not have the 3rd confirmation. But if/when this happens then we will have confluence of a 95c target for the DXY;

1. Lower trend line support
2. Fibonacci 1.0 extension
3. Projected target from the breakdown of the descending triangle
4. Support zone (94c-95c)

As I stated in my prior post, the March 2020 monthly candle for the DXY had a 9c range. It is not out of the realms of probability that if we get the market sell off either after the US elections or after the Xmas rally that we do not see a spike down to the 93c level that I have shown as a possibility before the fear trade starts the next leg up in the USD. After all, the expectations between now and Xmas is for a further 100 - 125 basis point cut in US interest rates.

Expand

Nothing hasty about it Phill. I'd imagine you read the bit about 10 years forward looking? May have missed that bit.

Besides, it was a simple evidence based rebuttal of your elementary perspective on line charts using an example from a world class analyst.. Surely you're not going to suggest your anon HC posts circumvent their commercial reputation? But if it makes you feel better, knock yourself out.

I didn't read the balance of your verbose post... it started drifting a little off track from proving my point. Someone else might get some value??

Still no breakout in lead, despite the extremely busy charts and loose prognostication.

No.	Vol.	Price($)
9	349759	10.0¢

No.

Vol.

Price($)

349759

10.0¢

Price($)	Vol.	No.
10.5¢	27805	2

Price($)

Vol.

No.

10.5¢

27805

No.	Vol.	Price($)
9	349759	0.100
1	6100	0.098
1	10789	0.097
2	102631	0.095
1	6000	0.093

No.

Vol.

Price($)

349759

0.100

6100

0.098

10789

0.097

102631

0.095

6000

0.093

Price($)	Vol.	No.
0.105	27805	2
0.110	95238	1
0.115	138000	3
0.120	266175	5
0.125	97020	2

Price($)

Vol.

No.

0.105

27805

0.110

95238

0.115

138000

0.120

266175

0.125

97020

(20min delay)
Last 10.0¢		Change -0.005(4.76%)		Mkt cap ! $23.33M

Open	High	Low	Value	Volume
10.0¢	10.5¢	10.0¢	$22.28K	218.0K

Nothing hasty about it Phill. I'd imagine you read the bit about...

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

Firefly positioned for copper growth in Canada ahead of resource update

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Nothing hasty about it Phill. I'd imagine you read the bit about...

Top Stories

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

Firefly positioned for copper growth in Canada ahead of resource update

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News