Given the number of red days in a row here, I think that it's probable to assume that a {double-bottom} may provide a bounce to reverse the trend. If it fails, then one could look for placing a bid at around the $9 mark.
$lun.to
Option green:
Retest of support and creating good entry at around SEK 66,-.
Option orange:
Break of overhead resistance, probably going to test the 50MA (blue line), before retracing to the new support around SEK 74/75,-, hopefully creating a good entry signal in that area.
Feeling bearish on this at the moment. Strength Divergence. The OB at S2 is going to be incredibly strong and would make for an amazing long entry. If we do not dip that low I predict sideways action before coming up on the resistance again.
Either way this goes there will be setups to swing trade with.
Watch and see if the analysis is correct although I would still miss a low. If we can count with 12345 of the wave (1), then I will examine the correction pattern of the wave (2) with abc in more detail, in order then to find the entry and take the wave (3). But this will probably take several months.
TSX: LUN LUN
NYSE:LUNMF LUNMF
Lundin Mining is a mid-cap mining company that will benefit from rising cobalt prices and demand.
Waiting for bounce off likely 4.55 for entry, or 4.35-4.40 range, and not likely lower $4.06-4.10
Fib retracement. RSI going above 50 with 1w chart shows good entry with lots of scribble correlation.
Sorry for the business, I mean...
