Technical Analysis - UpdateIt should come as no surprise that yesterday's trading added to the list of positive technical indicators. Here is an updated list of recent technical signals.
Event Date Event Opportunity Type Close Target
Aug 05, 2010 Price Crosses Moving Avg. (50-day) Intermediate-Term Bullish 0.39 n/a
Aug 05, 2010 Commodity Channel Index Short-Term Bullish 0.39 n/a
Aug 04, 2010 Symm. Continuation Triangle (Bullish) Intermediate-Term Bullish 0.36 0.56-0.60
Aug 03, 2010 Symm. Continuation Triangle (Bullish) Intermediate-Term Bullish 0.36 0.58-0.62
Aug 03, 2010 Williams %R Short-Term Bullish 0.36 n/a
Aug 03, 2010 Momentum Short-Term Bullish 0.36 n/a
It must be noted that there will be resistance in the 40-41 cent range. We will need to maintain strong volume (like yesterday) to break through. It is reasonable to assume that the recent technical performance and positive sentiment towards the potash market should bring a lot of new investors to the party.
I wouldn't be surprised if we start to see a lot of new faces on this board, so I will take this opportunitiy to welcome all newbies that read this post.
-K