This is probably not fair on you, but I see yesterdays close as a Classic example as to how TA Charting fails to recognize Fundamentals .
Going by the Charts, Yesterday was very Bearish "Engulfing candle-stick" However we all know the reason why it tanked at 3pm, and it had nothing to do with Pensana or Longonjo ~ it was just our Day Traders in a Panic, stampeding to protect their minimal holding. Once the rout had settled most rational sellers were still sitting on the days high ff $1.14, one more sale would have closed the day on a two week high !
Which raises an interesting question, Why did we not see a corresponding Dump on the LSE, Are the UK's DT's more sophisticated than our OZ ones and don't immediately think that "the Sky is going to fall" just because Donald has a sniffle or is it a case of "been there done that" with Boris ?
Whatever ! I am sure we are all looking forward to your analysis and predictions for Mondays trading.
PM8 Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
