The chart remains in a corrective phase with very little movement over the last 2 weeks.
The correction will only break with a weekly close over $6.42.
I would only consider the Bull story to be over should we have a Weekly close under $4.56.
Until then, all the deep dips REMAIN buying opportunities.
The rallies remain selling opportunities (profit taking only) and the dips remain buying opportunities (getting long)!
I REMAIN really bullish in the “big picture” but, we could easily see this market come off after trying to print $6.00, so in short you may well have the chance to get long sub $5.00!
This market is truly testing ones patience and especially on the shorter time frames.
I still feel that this chart can print $6.00 – $6.11 but post this we should see a decent pullback printing a minimum downside for $5.16 – $4.99 and potentially as low as $4.70.
I don’t expect this pullback to be sustained and at this stage I highly doubt we will see a daily close under $5.00 and should we see the sub $5.00 level IMO it would only be intra day.
I REMAIN a proponent of BTD’s and take cash on the rallies!.
#No Change in commentary
All the dips are buying opportunities and anything close to R3000 will be the biggest opportunity.
My ZAR flat price view is that R3000 – R2800 will be the ultimate low should we get there and that one cannot afford to be caught short as a change of trend can occur at any moment.
The pullback seems to be on the cards but all pullbacks are buying opportunities!
Once the correction is over this chart will be looking to break out to the upside by R500 or more, but I am not sure this is sustainable due to my Corn view, fingers crossed!
This chart has ST double tops and I now expect a decent pullback in the coming weeks.
We are now patiently waiting to buy this pullback and will start to buy scale down from $7.00.
There are now very decent weekly double tops and we would take all the cash off the table as we will get another buying opportunity in the coming weeks.
The bull market is far from over but 2 – 5 weeks of consolidating / correcting will do this chart a world of good.
We would now look to buy scale down from $7.25!
The bull market is far from over!
Over the last 2 weeks this chart has had a decent correction and seems to have started its new rally.
The chart looks well headed to $0.15 in the coming weeks.
All I can say that I would take a sneaky punt on the chart, but definitely not basket balls and all.
This chart has had a great rally.
I would not be buying anything here right now as the oscillator is now highly overbought and if I were long I would be banking the cash.
After a monster rally this chart looks busy with a deep, deep pull back and although I might want to buy the dip, I would advise patience.
This chart could end up taking players to the cleaners and hence I will let the formation play out until next week.