Morn all , Prowiz it is still to early to call a "genuine break out "
Trying to understand the length of time in a consolidation is difficult to determine . I would of thought 1 up and 2 across would imply 3 up and maybe as many as 6 across or it could be 3 ? 3 would be logical but that takes it into the yanks profit taking season which starts April into May .
Caution still needed around this level as an outside bar on monthly could even go as far as 87-88 area or next months high could also be that level .
This previous posted chart shows the logic if it is a box trade , Fake break below the line and then a fake break above the line of the same amount .
So only a close above 88 really turns the trend up from the current consolidation .
cheers g 14936026
ps; nice announcement I just wish they'd put forward some figs but it is still till early to be talking cash I suppose .
AJX Price at posting:
79.5¢ Sentiment: None Disclosure: Not Held
