Fresnilo

Hi deadcatbounce
Id wait for a 123 low before its safe to jump in.Its not had a higher high since December.
That where the 123 low comes in
Otherwise its still in the down trend and very bearish. So its risky to go against the main trend. Unless your day trading and your planning to hold for short term trading

Up coming RNS, next Thursday (Q1 Production Report 18th April 2013)as per FRES website.

Doesn't like going below 1279p at present (close to 1276p & 1259p supports mentioned below)will 1200p & 1100p come into play?

18p down for the day late on Friday with Silver/Gold falling

Large falls this morning with Aussie miners and gold/silver (low Q1 China GDP), some gold miners(-8% to -20%), might see that 1259p today Remo for FRES?

Question, how do you gauge the sp action with a fast approching intended entry price approaching?

(Lower stakes on 3 contracts rule; Gap downs; reset support target with fast moving market looking to go lower?????)

I have no wish to put you off a trade but I can see this easily going to 983 ad possibly a little lower. For it to stop now would mean the correction is a flat but my indicators have not yet bottomed out. I think it would be safer to wait for a bounce rather than trying to catch the 'falling knife', but that's just a personal view so do your own thing and be lucky.

With both 1200p & 1100p gone today, your 983p or lower looks likely, but as you suggest don't cathch a falling knife, current sp 1076p.

Where does the 983p come from, I see (902.84)903p(-61.8%) and 1153p(-50%)

Still on my watchlist for now.

Check the supports levels between the 50 and 61.8 fibs and you'll find the level. At work at the mo so can't post other than brief;)