MLX Metalex TIN NICKEL GOLD
Metals X Limited (MLX) is a diversified resource group with a portfolio of assets from exploration to production. MLX has interests in projects in
Australia as well as having investment holdings across the mining industry with global reach from Madagascar to Mongolia.
Tin, Nickel, Gold
MLX recently posted a reversal candle ( 3) in the following 2 weeks the price has reversed onto the Weekly resistance level of $1.36.
Primary trend is UP.
While the trend has not resumed at this stage, this support level could be an Ideal entry area.
The Daily chart shows the failure at the $1.60 high with a bearish Gap.
Recent price action has seen the price rally into the top GAP and fail back to the lower GAP at $1.35.
This phenomena provides a low risk entry with a STOP at $1.34.
Todays price action would suggest support has been found at this level.
The RSI has ticked up from the oversold level of “30″
CCI has not provided a buy signal.