SFR Weekly Chart Analysis 06/06/2016.

Are we seeing commodity BULL RUN ? Looks like we may still be in the beginning of one IMO.

To SFR now, which produces Gold and Copper as far as I know. May be worth visiting their website to find out exactly as to what they do.

In terms of it’s technical, dating back to 2013, a trading range in the form of an INVERSE HEAD & SHOULDERS may best describe it’s weekly price action pattern behaviour. Pattern is yet to be confirmed, must also be said. I need to see a BREAKOUT above the neckline, which is in the zone of $5.60 – $7.00. The height of the pattern is approx. $3.00 which would need to be projected to the upside should we see a breakout. That would then give us a tentative bullish price objective of around $8.60 – $9.00.

Summary : Potential Inverse Head & Shoulders in the making with SFR which requires confirmation. Tentative bullish price objective would then be around $8.60 – $9.00, if met.

Disclosure : SFR held.

Weekly SFR Chart below, showing the potential inverse H&S Pattern which is still in the making.

sfrweekly06062016

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