Why is MOLY expected to fall to $15I find it interesting that every comment I read about the price of MOLY looking foreward suggests higher prices in the next few years but then a falling off by 60-70% by mid decade next....
One can't believe that and be real positive ML, can they?
If oil doubles and MOLY tumbles what's that leave us??
Myself, I don't think forecasting commodity cycles is of much use...Cycle length's vary and should be expected to be shorter rather than longer given improved communications, quicker transportation and better technology. Forecasting future prices is just as much a guessing game...While the trend is up, stay long, when momentum is lost get out...The story is always best at the top...
that all said, ML looked good today. A/D line is positively divergent making new highs ahead of price...Feels like another Spring rally with tops coming in late MAY, hopefully somewhere near my target of $15..
https://stockcharts.com/h-sc/ui?s=ML.TO&p=D&yr=0&mn=4&dy=0&id=p24302165200&a=130768767&listNum=1