SIRIUS MINERALS (SXX)

My take.... 22.50

heres a zoomed out picture...You should be able to tell how ive drawn the down trend line


dl.dropboxusercontent.com/u/4899609/sxx19thmay2015.png

Hi yeah that helps after revisiting your graph, thanks. When there are obvious points it's fine but doing down trends from a peak into the future with no obvious pikes for itvyobtouch is where I have got baffled up to now. Am I right they you have taken s vertical line up from the recent high to cross the horizontal resistance to mark the cross over of the trend?

Seems 19.5p didn't quite go today vit gave it a good try and believe another test will come soon. Can't see it breaking a double trend resistance though in the short term and certainly not on first attempt

Hi Earl,
Hope I didn't put you off on Friday getting back in today when it smashed through 17p!
See Remo's post for resistances/supports')

best of luck

Hey Bunkerjo,

I use price extremes as my method but this is just the way I do it, I know other people do it differently.

I use candlestick charts as this gives me the extremes of the price action and all I do is join the peaks of the tops for resistance and vice versa for the support.

For a more better understanding please check out the video I did on this:

chartsview.co.uk/learning/Drawing-trend-lines.html

Hope that helps.

Thanks Remo. On the chart how do you determine the angle of the downward slope from the high of 30 and is thus std across all charts? I never seem to get that bit right