I reckon these are a buy back around $1.25 and not a cent above. That is the long term support level. Chart shows a clear double top at around 2.40-2.50, indicating a likely return to support. Since 1.75 was broken the next level is 1.25.
If chinese Buy, then it will probably get back to around 2.50. May have gone to $3 prior to market drop but you cannot hang on to that story anymore as market has changed.
Fear will control this market for some time now. Fear is ALWAYS more powerful than Greed.
Hopefully this is a little easier to read.
I am not downramping, the market needs no help at all. Just stating my position. Will be keen to get back in around 1.25.
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- pilbara python was right.
pilbara python was right., page-11
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