HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: Intraday strength
6
Jun 05, 2008 07:41AM

Re: Intraday strength

posted on Jun 05, 2008 11:10AM

Hi Joeybell,

On the 15min Intraday - RSI holds support, slow STO is positive, and the MACD has not yet crossed over while divergence has been constant. We are holding the 5min Moving average, which is currently offering support at $3.85. The 5min MA was resistance from last Tuesday, May 27 until yesterday, amd is presently support.



On the daily - RSI still strong and offered a positive signal yesterday, slow STO is in good shape, and the MACD could offer confirmation (or denial) in form of a crossover any day now - likely today, tomorrow, or Monday.



IMO we will still test $4 on this trend and we really should test ~$4.25 with the daily MACD the best indicator as to whether this latter scenario shall be the case. Taking out $4.25 and holding this as support should reveal a breakout, otherwise we are still within a normalized intermediate-term trading range with selling pressure and a short term upswing to the top of our intermediate-term trading range.

My opinion only, Cheers

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