technicals

Since the 27c break down , AIM's technicals have continued to deteriorate which was to be expected unfortunately - it was a critical point and the chart doesn't lie . Basically , AIM needs to find its support point for this corrective phase and prove to us all that nothing more sinister is lurking here. I'm starting not to like the depth of this retrace if a Wave 4 is what we are seeing here (I'm still sticking to this based on the weeklys) - 50% retrace = 24.5c which is where we are now at - I'd naturally like to see support come into play right here at this very point, but AIM has shown nothing YET (?) to convince anyone that this will be the case . Yesterdays report may flush out more sellers along with the media commentary of 'experts' now less optimisitc about zinc (they change their minds every week so don't pay too much attention !!) . Anyway, I'll be looking closely at how any further selling is absorbed over the coming days to assess AIM's present health - next lines of support are 22.5c , then 21.5c then the 61.8% retrace level is 21c (not a level I'll be comfortable about seeing) - The key today will not be in the selling, but how well it gets absorbed !! See u end of day for a brief update on this . cheers ECN.