Glen

Resistance: 357,,363,,400,,440,,509


dl.dropboxusercontent.com/u/4899609/glen17thjuly2014.png

This is in a nice bull pennant formation atm.(Basically the same as a bull flag).
uk.advfn.com/p.php?pid=chartscreenshotsh...Vo%3D&symbol=L%5ERIO

The good thing is its getting ready for a break out imho, if it breaks up, i will go long, the breakout would be @ around 369p, (falling daily), stops below the low of the pennant @ 354p.

If it breaks up, keep an eye on, and be flexible @ 377/380p, a break above and this could target a rise of the same size as the flag pole around 70p, so to 420p roughly.
This is also the target at the top of the rising channel as shown here.
uk.advfn.com/p.php?pid=chartscreenshotsh...nM%3D&symbol=L%5ERIO
Regards,
Trendfriend.

I'm long on this on the breakout @ 367p
uk.advfn.com/p.php?pid=chartscreenshotsh...M%3D&symbol=L%5EGLEN

Regards,
Trendfriend.

I have order to open short tomorrow at 363 with a SL above 373

Looks like a classic bull pennant to me that generally breaks higher. Not quite in the apex yet.

Was thinking exaclty the same F4T.
With the markets looking on the verge of a tumble, will this move higher?
I think it will, in fact some of the miners, may well be a safe haven, while the main markets have a retrace imo.
I never thought i would say miners and safe haven, in the same sentence!
Guess, you heard it here first.

Don't have a position here ATM, i will buy a upwards breakout, if it happens.

Regards,
Trendfriend.