swing long trade entered on kazakhmys @ 658p

The mining sector as a whole is moving firmly into Buy territory for us – our favourites on pure valuation terms being Bumi, ENRC, Kazakhmys, Lonmim & Avocet Mining.

Below is our interpretation of the Kazakhmys chart – we think we are withn 5-10p of a 30-40p rebound. There looks to be a 5 clear wave count down which typically completes such a corrective move, and the intra-day technicals look ripe for a re-bound. Remember, nobody rings a bell at the bottom but, valuations sometimes squeak – as in now!