MCP broke overbought levels on 144 Stochastics around 10 am
after having hovered above 70 for the past 9 trading days. That was
a nice indicator to go short.
I have followed MCP for the past 9 months. Fundamentally in the
short term, it is still a hot one to follow but I see for the
longer term that MCP will face tougher competition. Due to the
export restrictions from China, many countries are now in the
process of starting up new mines or re-opening mines shut down in
the past. Thereby the supply of rare earth minerals to the world
market will increase, thereby causing prices to decrease.
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MCP broke overbought levels on
MCP
Posted by etcbari on 2nd of Aug 2011 at 10:18 pm
MCP broke overbought levels on 144 Stochastics around 10 am after having hovered above 70 for the past 9 trading days. That was a nice indicator to go short.
I have followed MCP for the past 9 months. Fundamentally in the short term, it is still a hot one to follow but I see for the longer term that MCP will face tougher competition. Due to the export restrictions from China, many countries are now in the process of starting up new mines or re-opening mines shut down in the past. Thereby the supply of rare earth minerals to the world market will increase, thereby causing prices to decrease.