TSX Venture Trend Reversal
It looks like the Venture market has finally reversed its downtrend today. I think a new uptrend has begun. I'm not going to try to predict how long it might go on for but we are still 24% below the peak in May.
An important level that we must pass before this though is 2863. That is just a resistance line and if we pass that, the next level is the 3292 level. And if we pass that, we're going much higher again.
Keep an eye out for those two levels but I think now is a good time to start buying some juniors in small quantities. If we pass the 2863, then you average up. And if we pass 3292, then you average up again.
But don't think that we will be going up straight to the moon. Keep watching the charts for the next trend reversal and that will be the signal to sell most of your positions and lock in the gains.
