MONTHLY IS OBVIOUSLY BEARISH DUE TO FUNDAMENTAL NEWS, FINDING SUPPORT ON THE 0.618 FIB LEVEL CURRENTLY.
FUNDAMENTALLY A SAFETY REPORT OF LYNAS OPERATIONS IN MALAYSIA WILL BE RELEASED IN 3 MONTHS.
WE SHOULD SEE SOME BUY PRESSURE AT THESE LEVELS NEXT WEEK BUT I EXPECT FURTHER DOWNSIDE TO THE 0.786 FIB REGION WHERE MAJOR SUPPORT IS.
I BELIEVE THE REGION AROUND THE .786 IS A GOOD LONG TERM BUY REGION AS THERE IS ALOT OF CONFLUENCE.
UPTREND LINE, 0.786 FIB REGION AND LONG TERM SUPPORT LEVELS.
FUNDAMENTALLY A SAFETY REPORT OF LYNAS OPERATIONS IN MALAYSIA WILL BE RELEASED IN 3 MONTHS.
WE SHOULD SEE SOME BUY PRESSURE AT THESE LEVELS NEXT WEEK BUT I EXPECT FURTHER DOWNSIDE TO THE 0.786 FIB REGION WHERE MAJOR SUPPORT IS.
I BELIEVE THE REGION AROUND THE .786 IS A GOOD LONG TERM BUY REGION AS THERE IS ALOT OF CONFLUENCE.
UPTREND LINE, 0.786 FIB REGION AND LONG TERM SUPPORT LEVELS.
Comment:
Comment:
There is a potential of a nice bounce play here ~8-10% depending on how the price reacts tomorrow.
Comment:
Stop loss at $1.00
