LOXLEY : Wild swings ahead

The move from around 11am to 12 on Friday was scary – falling from 3.18 to 2.60 in a singe hour. This spells more wild swings ahead, and for those who caught it on Friday afternoon there are key resistance levels at 3.18-3.20, then 3.26 and 3.34. Watch for strong selling at the first level, and if it fails to get there Monday there will probably be a retest of 3, possibly 2.90-2.92 again.  Even a breakdown below 3 will be enough to spook speculators, so beware with this one early in the week.


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