CMR,
Bearish rising wedge with a bearish divergence with RSI. A close below the rising trendline gives a target of $3.50 which is a fibonnaci support!
Meanwhile, the Ox needs to close above $3.25 to signal a breakout! Target is all time high in the $3.80 area. Ultimate target from the October breakout is $4.50 area. The recent decline to $3 was a retest of the breakout in October. A bit of luck, I think we will see $4.50 in Feb with just a little pause at $3.82 to say hello and goodbye to the previous all time high! A likely scenario is a steady rise to $3.80ish leading up to the quarterly and then a big surge after the market digests the results! Should have the grades from Golden Grove in late January! These will set the Ox on fire!
Heres hoping, anyway!
OXR
oxiana limited
