I wouldnt be suprised 3yr bull market has to end somewhere. Some of these resource stocks have got some hard work in front of them to get to previous highs. With all this resistance above much harder to go up now. Unfortunately easy to go down.
There will be a recovery, good chance to trade but I wouldnt be hanging around too long any bad signs and I'll be out. Might be good for some quick profits though.
"On Monday, the Organization of Petroleum Exporting Countries said it will keep pumping crude at current levels, while also making clear it would consider scaling back production if oil prices keep plummeting.
OPEC's decision followed a pledge by Iran on Sunday to consider complying with demands to stop uranium enrichment, easing concerns that Iran's oil exports would be blocked by U.N. sanctions.
Some OPEC members, including Iranian Oil Minister Kazem Vaziri Hamaneh, have suggested that crude oil prices shouldn't be allowed to fall below $60 a barrel."
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