The largest declines could be over. The target of 27 cents indicated from the break below 33 cents, at the neckline of the double top formed in June has been attained. Prices could still go lower, but support at the 23-to-24-cent level is likely to prevent further losses. Quarterly momentum is at an oversold low but it will take some months to bottom out.
Any rebound is likely to meet with resistance in the 27-to-28-cent area, and prices look set to remain between 23 and 28 cents for the next several months.
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