ASX:XMM - Keep a close watch on sector and companiesASX:XMM - Keep a close watch on sector and companies
~The sector is in an uptrend after making a bottom in Jan 2016
~the previous high was made in Nov 2008
~after a gap of close of 13-14 years sector has come to the limelight.
~Strong global demand
~China demand for minerals
~ Global infrastruct
S&P/ASX 300 METAL& MININGThis is an update of my previous post on 23-3-2018.just added some extra support resistance and trendlines to the chart. The Index is heading into Bear territory after breaching two critical support price points in the last two trading session. There are three price points that I would like to point
XMM S&P ASX 300 METAL & MININGThe Index is currently down by 3.64% trading below 3465 and looks to be heading down to 3410 support. The next support is at around 3346 if it fails to hold at 3410.
There are two critical price points to keep an eye on
1. 3465 - This is a critical price point where prices need to get back up here
ASX 300 Metal & Mining Index is holding its ground at 3093
ASX 300 Metal & Mining Index closed on Friday 18-8-17 at 3093 a critical support price point which had four consecutive failed attempts in the past five months and was recently successful on 4/8/17 but after seven trading days it is showing signs of weakness to maintain its trading activities above
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Displays a symbol's price movements over previous years to identify recurring trends.