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Celsius Resources Ltd. Weekly Price Chart

Celsius Resources is an ASX listed resources company (ASX: CLA) that also trades on the German stock market (FWB: FX8). Celsius Resources Ltd., formerly Celsius Coal Limited, is principally engaged in the business of mineral exploration. The Company is focused on Cobalt, Nickel and Copper Projects  that include the Opuwo Cobalt (northwestern Namibia), the Abednegno Hill Nickel and Carnilya Hill. According to Reuters Celsius Resources is aiming to start Cobalt production from the Opuwo mine in 2020 and will declare its maiden resource – the initial estimate of how much is economically extractable – around the end of March on the deposit. From a technical viewpoint the recent weekly breakout is really remarkable as drawing a falling trend line over the tops of the recent weekly candles extends backwards below the initial 2014 weekly low and a dramatic increase in exchange volumes is observed below that resistance before the breakout that happened last week. This is a speculative bet that could pay out big time over the coming years as the trend (30-week average) is pointing higher and there is a huge gap to fill up until the previous  €2.0 low. On the ASX, CLA presently trades at approx. AUD 0.14 while the 2014 low stands at AUD 2.0.

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