Todays SP has only really just dipped below my long term trend line.
Stochastic is... as I like to say... 'in the toilet' and showing lots of selling fatigue. Volumes are also down so its only a small majority interested in giving up their shares. Could also be a bit of algo and bot trading trying to temp the weak.
Also the SP may be gunning to test the fib retracement of 0.618 which also appears to have been a place of multiple support and resistance. (god bless its little heart)
So without news, and seeing as the SP is dipping below my 'longish' term trend line and key fib retracement point (old support/resistance) is close, this area just may hold the key to finding support.
The recent downward trend line is also yet to be broken which is really what we are waiting for.
Not so sure about Pisces' criptic quips, but I AM looking to double down around the support/resistance area and will be watching for the classic Friday arvo drift and maybe a piercing dragonfly style candle for an opportunity to accumulate.
All IMO and GLTAH
VEC Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
