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619 Posts.
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29/02/12
22:34
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A good day. Makes me a lot more confident that a significant low is in place at 2.3c last december.
Now for the 6c level. All other things being equal, this should be a tough level to get through because:
- it's the base of the 2009-2010 Rectangle formation, formerly support, now resistance; and
- it's roughly where the downtrendline from the 2007 peak cuts in.
But, if it can get through 6c, it could well be very exciting times ahead for holders.
I agree the last presentation was much improved, and maybe I'll end up eating my words about selling the Brazil operations.
I'm upping my sentiment from hold to buy.
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