LMIR: Testing resistance.

LMIR has risen on declining volume. MACD is rising in negative territory and the MFI continues to rise towards 50%. Without a significant expansion in volume as price pushes higher, it will be hard to overcome immediate resistance at 47c.  In the event that 47c is taken out, there is a band of resistance provided by a cluster of MAs from 47.5c to 48.5c.  Upside seems limited which might explain the lack of enthusiasm from market participants in adding to their long positions here.

I would like to accumulate units in LMIR again but will wait to see how things unfold.