By the way when I was reading my old post no. 5831003 on 15th...

By the way when I was reading my old post no. 5831003 on 15th Oct.2010, (price was around $1 at that day) I realised I said an interesting point which could be an important indicator for today's sp.

I was saying this:
"ELM will go up seriously. Instos are in ELM. This is serious business. I beleive they are accumulating up to average $1 price. They started with 40c. They will still be buying up to $1.60 for averaging to $1 till end of the year. Then they may stop and wait for the JORC resource certification for Kola. So we have along way to go my friend"

Now we have reached to that price level ($1.60), even a bit higher atm ($1.78). Fibonacci 38.2% retracement level has already been set at $1.60 now. This is the first support level.

Next support level is at $1.30, this is also the Fibonacci 38.2% level for the long run (from Aug.2010). It would be hard to go back to this point but you never know.

Let's see if the sp will struggle to go up any more than this. We may go sideways for some time, or go lower or even go higher to the physiological resistance level of $2 soon. I can't predict anything at this point.

Today is interesting, high volume in a very small range ($1.75-$1.79)!!! Don't know what's happening.

Good luck.