Canada TSX: Momentum trades

Bullish

• New Zealand Energy [NZ] ~ respected support at $3.00; breakout above $3.80 would confirm another primary advance.
• Rio Alto Mining [RIO] ~ narrow consolidation favors breakout above $4.70, signaling a new advance; support at $4.30.
• Roxgold [ROG] ~ good support at $1.90, breakout above $2.15 would signal a new advance.

Watch for breakout

• Tri-Oil Resources A [TOL] ~ narrow consolidation between $3.50 and $3.80 but strong bearish divergence on 21-day Twiggs Money Flow
• Argonaut Gold [AR] ~ strong resistance at $10.00, support at $9.00
• Atna Resources [ATN] ~ support at $1.25, resistance at $1.50.
• Northern Graphite [NGC] ~ 21-day Twiggs Money Flow below zero is bearish but ascending triangle below $2.20, breakout would signal a fresh advance.
• Pretium Resources [PVG] ~ breakout above $18.00 would signal continuation
• TAG Oil [TAO] ~ testing resistance at $10.00
• Americas Petrogas [BOE] ~ testing support at $4.00, respect would favor breakout above $4.50 and a fresh advance.

• Coastal Energy [CEN] ~ recovered above $20.00, follow-through above $21.00 would confirm a fresh advance.

Negative Watch

• Silvercrest Mines [SVL] ~ strong bearish divergence on 21-day Twiggs Money Flow followed by sharp drop to test support at $2.50.
• Madalena Ventures [MVN] ~ long correction, headed for test of $1.00.