Looking back at the Chart. I haven’t done that in a while.

On June 8 LAC chart formed the Death Cross. I warned you in my June 8 message:

“…..  Today LAC SP formed a Death Cross. It is not a very optimistic scenario.

“ The death cross occurs when the short-term average trends down and crosses the long-term average, basically going in the opposite direction of the golden cross.”

During the next trading week LAC SP went down from upper $25 to below $20. Nobody likes to bring bad news but I feel that some of you would like to know what is going on in that area.

From mid-June to mid-July SP bounce three times from the $20 area forming a good support level. Lately, supported by good news from a Senate and company performance SP managed to break through good old $24 support/resistance and now we all enjoying a little ride.

 Right now MACD and RSI look a bit overbought and little pullback is possible, but the overall direction should continue to the next resistance at $27. Then thing should settle down unless we have major news.

 Yes HC, one month ago one US dollar was worth 125 Argentina pesos, but today with the dollar continuing to be strong it worth 131 pesos. So that should help Company with the local price increase and inflation.

 All ahead.