A strong buy-signal is generated when rising and holding above the uppermost (green) trend-channel at $1.45 as a new and longer-termed upward-trend is typical thereafter – especially when breaking above the uppermost orange parallel-resistance currently at approximately $1.55.
Thus, a sell-signal predominates at the very moment, whereas a more definite sell-signal is given when breaching the blue supports currently at approximately $1.35 and $1.20.
Hence, a major buy-signal is active when holding above the $1.45 level, or when having corrected to the blue and green support levels.
Disclaimer: The author was not paid or compensated in any way or means by the above mentioned company to write the above article. The author does not hold any stock or other kinds of securities of the above mentioned company.
Stephan Bogner (Dipl. Kfm. in Economics) is a mining and commodity analyst with Rockstone Research Ltd, an independent research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on the exploration, development and production of resource deposits. Please visit www.rockstone-research.com for further information, such as the disclaimer of the above article.