the week that was

As we all know LYC copped a decent size smack in the head last week losing between closes a tad over 10%, but at the lows was more like 22%

This morning our markets are expecting a big jump all cause of the silly fun and games over in the EU, now will our markets play along for long or will it just be the typical pump and dump and return to the norm.

We'll get an idea imo after a day or 2, but looking at LYC we've obviously suffered even more damage with that action of last Wednesday.

Now I believe our first obstacle is to get above this 87cent area and then do a few push ups be happy back test that successfully and then move on. Next will be the previous lows of the TR and that magical round figure of $1.

Could be wrong but I dont see LYC going that far very quickly, all the pom pom wavers out there will be saying their normal old things and of course you dont see them ever again after it falls further.

I think the huge bar of Wednesday will need to be successfully tested and atm it hasn't. It wouldn't surprise me that after all the fan fare of the next few days that the price returns down into this area. But of course this may be the real deal or something like it with the markets and we do move off into the sunset all merry, we just dont know that as yet.

The next few days on both the market and LYC will be telling, simply looking for our typical weak bars to appear.

The entire road down from that last announcement was so weak, I mean the pro money never showed any successful testing at all, it was just throw up the chook food with their supply and then let it fall, or it was take it down hard and then allow it to fall, no let up to breath at all.

So we're on the lookout for bullish bars but most importantly after these bullish bars we NEED to see bullish testing that is then followed by more bullish action, if not well we know what may be still on the cards.

Lastly with this latest EU fanfare we imo can expect a few interesting days to begin this week, so sit back enjoy and to start with this morning I wonder how high the pro money will throw the chook food

LYC weekly chart which is simply horrible, breaking down thru support on an increase in volume/spread



LYC day chart showing some of the resistance levels to take on but more importantly to backtest successfully after getting there.



LYC intraday chart