i think that the candle left yesterday was quite bearish and today confirms that movement. I had gone long on friday as it broke north of my allens pitchforks and the weekly stock had kicked up. Yesterdays candle and todays confirmation look quite bearish IMHO. A move lower wouldn't suprise me and i am well short ATM as of today. The monthly stoch is still pointing downward with room to move. I don't know which way its going to go. I think it could go either way. The whole index looks set to move up but the saying is that when everyone is most bullish is the most likely time for a dowturn.
And the other thing is that when brockerage firms put out guesstimations on future prices they are sooo often wrong. It can often be beneficial to take a contrarian appraoch, particularly with the mining companies. Just my observations .. . . have a look at the downgraded that brockerage firms put out on the resource sector just prior to this move - RIO from 28 to 38 dollars and BHP from low 8 to high 12's >35% rises.
Anyway see how you go.
kman
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Last
$125.96 |
Change
0.220(0.17%) |
Mkt cap ! $46.75B |
Open | High | Low | Value | Volume |
$125.68 | $127.79 | $124.75 | $188.0M | 1.490M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 121 | $125.82 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$125.97 | 3899 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2788 | 125.780 |
1 | 1 | 125.750 |
1 | 2500 | 125.600 |
1 | 300 | 125.550 |
6 | 1293 | 125.490 |
Price($) | Vol. | No. |
---|---|---|
125.970 | 3899 | 1 |
126.000 | 804 | 3 |
126.070 | 172 | 4 |
126.400 | 23 | 1 |
126.430 | 2973 | 1 |
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