AGX ..... up front, NO fundamentals are
considered in this analysis ..... only
technical tools used here .....
In the AGX chart below, we can see that
the range down from the 29042004 highs
to current lows is about 84.5 cents. So
if our current low at 18.5 holds, then
our expected retracement target will
be about 60.5 cents.
Click here for zoomed-out AGX chart .....
As posted above, we may expect a retest
of current lows, around 01052006, some
2 years on from the 2004 highs.
In the past four trading days, a weak
double bottom is showing with a hammer
candle,forming on Friday last.
We should note that there's likely to be
some underlying negativity in AGX, that
should dissipate late May 06, only to
return for the whole month of December 2006.
During these periods, any good news may
receive a muted response, whereas any
negative news may see an over-reaction
to the downside, just as we have seen
since the 09022006 high in AGX, at 37 cents.
Now, looking at the time cycles ahead for AGX:
03042006 ..... minor ... (finances?)
07-10042006 ..... lows here??
14042006 ..... negative news - looks BIG???
17042006 ..... minor
01052006 ..... test lows again, around 2nd anniversary
of 2004 highs ..... ???
03052006 ..... minor news?
17-19052006 ..... 2 significant cycles here and
positive spotlight on AGX
26-29052006 ..... 2 minor and positive cycles here,
may trigger a short, aggressive rally???
01-02062006 ..... negative news here???
19062006 ..... negative spotlight on AGX
21-23062006 ..... June 2006 solstice and 2 cycles here
may bring positive news(finances???)
Late-July, August and September 2006 should see some
long-term changes being introduced to AGX, with the
spotlight firmly on AGX, throughout September 2006.