Hi downside , I agree .55 is a resistance level , but it will get through it , even if it takes three to four goes . What can spoil it though is a sharp rise in o.p. following the June 2nd OPEC meeting . In my early days I also suffered from itchy finger syndrome and missed out on some serious profits . I don't do that any more . I rode LNC down to .45 c , and watched the exact same pattern unfold all the way up to $3.00 . MRM is a much better bet than LNC . Furthermore there is no sign of leg one of the Elliott Wave expiring yet , not even close . For example on the weekly chart .24c to $2.20 was leg one , $2.20 down to $1.00 leg two ,$1.00 to $4.20 leg three . After expiring on leg five we went back on a perfect Elliott Wave retreat pattern to .21c . I think we are still consolidating or basing and leg one exhaustion is far away . Large trading companies wont re enter until after the $1.00 break out . Why ? because the always do , I don't yet know where the top is , it's too early to tell and way too much water to flow under the bridge yet . My educated guess is the Elliott Wave pattern this time will be much the same as before . But when in doubt , only sell half , that way if you are wrong you may still be able to get back in . You wont get too many chances at a ten bagger , money management is the key here . Good luck anyway mate Cheers.......
MRM Price at posting:
49.8¢ Sentiment: Hold Disclosure: Held
