MVR, VanEck Australian Resources ETF.

For PDS and Fact Sheet of MVR.ASX please visit Van Eck Australia website if you wish. In total, MVR has 25 Australian resource stocks under one umbrella. Top three holding s are in the order of BHP,RIO and WPL.

MVR trend analysis : All trends , short, medium ( intermediate) long (major) are up.

The largest volume coincided with a small ranging bar in the first week of Feb. may suggest potential medium term top within a major uptrend may unfold at current levels.

 Those of us who are proficient with Elliot Wave (I am not) may also suggest a completion of a 5 wave motive pattern which may be followed by a three wave corrective pattern.  

I am marking couple of important support levels on the chart which are worth watching should we see a further corrective period, which may be likely.

Ratio analysis at the bottom window suggesting that MVR is no longer in a relative major uptrend against XAO.

Double Click on weekly MVR chart below to see the enlarged version.

mvrweekly25032017

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