Monday, December 5, 2016

CNMC Goldmine: Holding above 0.40 for now, but not out of the woods yet, price 0.41

CNMC has still been supported above the 0.40 level for more than a week.

Has tried to rebound back above 0.45 but never close, sellers are out on any slight rebound so far.

Note that any breakdown below 0.40 can see more selling too with MACD still negative.

We had a 1ET BEARISH SIGNAL on 14 Nov 2016, about 3 weeks back and so far there has been no exits yet. See below.

My take is that we can still see more selling below 0.400 with target to 0.35 then 0.30 possible. Let’s see if that happen again

Those who have already shorted previously can also consider locking in some profits near 0.40 for now.


Recent Emails:

Sent: Thursday, November 24, 2016 9:12 AM
Subject: ******* CNMC Goldmine: Indeed a breakdown below 0.45, weak below imo, price 0.435

Sent: Friday, November 18, 2016 12:58 PM
Subject: ******** CNMC Goldmine: Next support at 0.45 still holding.... for now... price 0.455, be careful below...

Sent: Wednesday, November 16, 2016 10:02 AM
Subject: ******** CNMC Goldmine: A breakdown below 0.500 can see more weakness, price 0.475

For illustration purpose only

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