LIF, Labrador Iron Ore Royalty Corp. update.

The usual then, six months ago, and now charts;

LIF june 27 2015 slif jan 12 2016 s

We did the triangle like formation as shown on the left and then drop real fast from slightly above $16.60 to today’ low of $7.78 . This should complete wave 3 of C. At the very least a tradable bounce of $4 or more should occur in wave 4 of C.

For the reader’s convenience we have duplicated the chart on a bigger scale below. Remember that by clicking on the charts they get bigger and can be moved around.

lif jan 12 2016

and the stuff itself;

iron ore spot jan 12 2016

P.S. The large chart of Lif above is a marvellous example of a triangle seemingly occurring in a 4th wave position, that is at the top or near it. It would be easy to assume that a 5th wave thrust up should be next. Instead the stock drops like a stone. Triangles cannot have 5-wave legs within them and here the c of 2 is clearly 5 waves!