Friday, September 30, 2016

Alliance Mineral: Target hit and some profit taking seen for now..... price 0.110

From note sent a few days back, we have indeed seen Alliance Mineral trading upwards further and touching the key 0.110 resistance today as mentioned.

As expected, seeing some selling pressure near here which is normal also with market softening today…

Can there be more room to go above 0.110 ? Yes possibly, BUT…..

Waiting for more price action confirmation for the 2nd phase upwards reversal…. 

Not too sure it will come though….

If not, a retracement back down possible too…

Protecting profits key for now….

fyi, had a Bullish signal from my system for this counter few days back too… Grads will know why....

Become a client to Receive Trading Ideas LIVE >>> CLICK HERE.


Recent Email:

Sent: Wednesday, September 28, 2016 9:54 AM
Subject: ************ Alliance Mineral: Some actions seen over the past few days, A move above 0.105 can see it test the critical 0.110, price 0.102
Alliance Mineral has broke back above the 0.090 resistance level over the past few days and seems to be heading towards the 0.110 key resistance level. Seeing some sideway consolidation where a move above 0.105 now can see it test the 0.110 which it has been trading below since the beginning of the year. Any clear price action above 0.110 can see the upwards reversal continue. Moving averages are pretty flat at the moment with more confirmation required for the reversal. As for now, likely to see some selling as it approaches the key 0.110.

No comments:

Post a Comment