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Heya guys, indulge me for a second.I'm tinkering at the chart,...

  1. 40 Posts.
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    Heya guys, indulge me for a second.
    I'm tinkering at the chart, different time frames, different points in time - trying to make sense of it.
    I'm uploading a weekly chart. It is pretty zoomed out but it is because I am trying to look at the bigger picture. So apologies for all the zooming in and out you will need to do.
    So on the left half of the image I have a price extension of the falling trend from 31c.
    It is the red horizontal lines.
    As you can see 13.25c also being the 50% extension played as a strong support level before it was broken, then retested and finally became a resistance level.
    Similarly, occurred with both the 61.8% and 75% levels.
    Price then reached the 100% extension and kinda ran outta puff to keep pushing to levels further.
    6 weeks later it turned and away she went.
    Now looking at the right half of the screen I have in the green horizontal lines the Price Extensions of the ascending market and in red I have the extensions of the descending market.
    I won't bore you with talking through each level, but notice price failed to rise and touch the green 50% level before it pulled back.
    Now the way it's falling, is tagging or even hovering below the red 100% level looking probable, considering what little support 61.8% and 75% played?

    On the weekly Stochastics, RSI and MACD all suggest to me that there isn't slowing down yet.

    All my novice opinion and thoughts. Would love to discuss what you all see.

    Cheershttps://hotcopper.com.au/data/attachments/6113/6113957-bb0d3e3d8240f35afbe01d5aac1b9c3d.jpg


 
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