SIRIUS MINERALS (SXX)

Earl I don't know if you bought earlier today, there is resistance at around 16.75p on Daily (17p on weekly), that may be difficult to break. Needs to close above 17p for this run to continue in my view, rsi gettiing a little hot too. I'd consider banking profit and then observing to see if pushes on through 17p or pulls back a bit. I'm kicking myself not getting in sub 9p!

atb

Hi does anyone know of the reistanxe points (minor and major). Made pretty light work of 17p in the sand so far 19p hasn't seen the strong sell I expected. Volume is huge today though

dl.dropboxusercontent.com/u/4899609/sxx18thmay2015.png

resistance...22.35 (trendline),,,22.68, These two levels are close together so strong resistance.,,,,,,,,30,,,,36.75

support....17.32,,,,16.53,,,,11.52


there is no real resistance until 22.5 area so thats the level to watch for resistance.

Thanks Remo. On the chart how do you determine the angle of the downward slope from the high of 30 and is thus std across all charts? I never seem to get that bit right

Hey Bunkerjo,

I use price extremes as my method but this is just the way I do it, I know other people do it differently.

I use candlestick charts as this gives me the extremes of the price action and all I do is join the peaks of the tops for resistance and vice versa for the support.

For a more better understanding please check out the video I did on this:

demo.chartsview.co.uk/learning/Drawing-trend-lines.html

Hope that helps.

Hi Earl,
Hope I didn't put you off on Friday getting back in today when it smashed through 17p!
See Remo's post for resistances/supports')

best of luck