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LLOYDS BANKING GROUP PLC ORD 10P, MX OIL PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P
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Falling wedge break (coinciding with a 78.6% Fib bounce), strong indicators on the weekly - what's not to like?
Wedge target shown (from initial height) coincides nicely with a fib line from each of the retracement and extension plots.
All it's lacking now is some extra volume...
Unfortunately we didn't manage to hold the fib level and break out of trend.
I will be watching for re-entry at a lower level if it lands at 1.07p (happy to be wrong)
If we hold above trend line and above 61.8% fibs my 1st target is 2.31p once we break above 50% fibs at 1.88p
3.71p and a retest of ATH is quite possible to be hit later on this year if you hold after 1st target but profits will be taken at different stages on chart.
I believe there is a LSE conference that John Peters will be apeaking at, that might give further ...
It seems that SML is finalising a cup and handle pattern, which also contains a H&S pattern.
I think that represents a bottom formation and is bullish.
Wait and see.
While Strategic Minerals would appear to be a great medium-to-long-term investment choice based on fundamentals alone; shorter-term the chart is forming something very closely resembling a head-and-shoulders pattern. If this completes by dropping below the neckline then it is likely to continue to be bearish in the immediate future to target up to another 1p lower ...