So back around the beginning of January I pointed out that ML was in a nice solid trading range. Those who entered in and around .50 cents and then exited at .60 made out very well. If you missed it fear not as the wash, rinse, repeat cycle appears ready to repeat.
The Bollinger bands, on a 6 month chart, have ML at the bottom of its range and the volume indicates the sellers have been exhausted. Those expecting a rout in price like we saw in December are probably going to be disappointed, I expect to see a steady move up as ML again tries to break the long term resistance line which now sits at a mere .53 cents.