Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Re: T.A

Noront Resources

about 14 years ago

in response to LTGoldBull2's message

That is a thought, but to be honest with you, former highs count, so the real trendline is from 1.92 through the lower April high which intersects with the 1.24 low, aug 24 low and todays low. Duly tested imho.

As per an IHS, the most favourite set up for this patern for me is a broken downtrend that gives a new high off the low that is equal to or close to a former high within the downtrend.

The subsequent backtest of that downtrend can and often does establish a right shoulder.

An increase in price and volume from here can signify that traders have recognized the transition from downtrend to uptrend, this is simply how it works in my humble opinion.

Cheers,

per:

http://www.glowfoto.com/static_image/31-115020L/5848/png/08/2010/img5/glowfoto