technical analysis

Prices are sharply lower today and the volume of trading has been heavy.
Expect the ETF to eventually break above the 52-week high of $137.56.
Wait for a two-day dip and then buy a starter position in a mining name or an un-leveraged ETF. 
What is important is that you do not take a big loss in the markets. 
The bigger risk is to the downside.
Barring a strong rally over $31 that has follow-through, we look for AZN to slowly erode.
GSK has been largely stuck between $44 on the upside and $37 on the downside for the past 12 months.
Prices have rallied since February/March.
A strong close above $112 could be just enough strength to turn things more positive.
Be a buyer on a close above $15 and add above $17.

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