avm technical musings

Held AVM last year around $2.90 and jumped out at this level because I was an idiot with no idea. So have been working in this.

Technically, the chart says AVM has consolidated sideways enough while holding $3.05. Further sideways is not a problem. Breaking below $3.05 is though. So if politics can settle down, AVM should be set to recover further in the short term at least.

Above $3.36 is confirming a buy in this area. Beware if it weakens below $3.00 at all.

Copper price has continued to rise on the weakness of the USD which looks set to continue. I think look for copper prices around the recent 2010 high $7,900/t ($360/lb).

LME stockpiles are being drawn down on rising prices which should be a positive.

rgs,
pw