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Elliott Wave Financial Price Forecasting

Falling off the cliff (Lonmin PLC Elliott Wave update)

by m.tamosauskas| July 14, 2015 | No Comments

Over two months ago we have published our Elliott Wave forecast for the Lonmin PLC describing the topping formation in progress (see the link): ‘The Lonmin is expected to stage a final sell-off during the next few months prior to beginning the new bull market. Basis Elliott Wave analysis, the advance that began from the March ’15 low of 105.70 unfolded into a single zig zag pattern, labelled a.-b.-c. in minor degree with a completion into the recent high of 157.50. Note a fib. 61.8%/38.2% ratio within a single zig zag pattern. The recent spike and an immediate reversal to the downside suggest the final sell-off has already begun from the 157.50 high’.

Basis this forecast, a minimum downside target was below the March ’15 low of 105.70 – already a massive minus -33% downside risk. Wondering where it is trading now? Subtract 50% from the May ’15 high of 157.50 and you are here:

150714_Lonmin

Category: Commodities, Elliott Wave, Elliott Wave Patterns, fib-price-ratio, GDX, Gold, Gold Mining, Lonmin, Platinum, WaveTrack International
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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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