WaveTrack International

Elliott Wave Financial Price Forecasting

Lonmin PLC like a phoenix arising from the ashes

by m.tamosauskas| October 5, 2015 | No Comments

151005_Lonmin

The devastating decline that began from the July ’07 high of 4400 has reached as low as 14.50 in Sep.’15. In our latest update of this equity we were looking for a minimum downside target below the March ’15 low of 105.70 but it has extended much lower. Despite this however, the recent price development shows a sign of life – Lonmin PLC has advanced from the 14.50 low to above 23.00.  Basis revised Elliott Wave analysis, the decline from the 4400 high into the 14.50 low is best described as a five wave expanding-impulse pattern, suggesting the following advance will unfold into a corrective sequence. It has a potential to advance much higher, but we stay conservative here with a call of a fib. 38.2% retracement level of the preceding decline targeting 128.00+/- in the years ahead. The mining sector becomes more and more interesting by each day, join us to find out more http://goo.gl/hQNwOu

Category: Commodities, Elliott Wave, Elliott Wave Charts, Elliott Wave Patterns, Elliott Wave Principle, fib-price-ratio, Fibonacci Trading, Financial Forecasting, GDX, Gold Mining, Lonmin, Palladium, 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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