Encore Renaissance Resources Corp V.EZ

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Encore Renaissance Resources Corp

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Post by wood6411on Dec 03, 2009 8:19pm

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Post# 16552562

BE CAREFUL OF THE DOUBLE TOP HERE.....

Nice run up here, but folks put on your realistic hat. We are now at a double top point on the technical chart, and breaking back onto the overbought territory on the RSI. Nice to see volume at a decent pace though. Will we break through this double top, or consolidate from here? These double tops are famous for reversal points, unless of course positive news gets released. Will this happen in the near term? Who knows? Just be careful at this point. That's all I am saying.

Got a phone call from IR today, and was told we have 400 tons shipped (even though the press release from Axcess News on Nov 23rd says 500 tons were shipped) and the rest of the 1000 tons in Jan. . It might just be a slip of the tongue, by either source. The Yukon property is on hold until spring for obvious reasons. Dolly Varden, and other properties are in the closet until Bonaparte can show some income.

In my opinion, don't look to see big things happening until the new year. I would venture to guess by mid Jan thinks will be heating up though. That will be good timing, especially with RRSP season in swing.