chart

Fellow Cat herders

Here's my updated chart for the Cat. Indicators can be a lot of hocus pocus but when they align with price action and depth I think they tell a better story.

The chart alone makes a convincing buy IMO with two distinct support channels with plenty of reasons to think 16 is the next stop, but of course, once she gets there it will be new 12 month highs and I think there is heaps of upside.

Not surprising it is having a rest around these 13/13.5 levels as there were a lot of punters caught in what was thought to be the bottom in Sept 2008. Psychology studies have shown many of those will sell back in now at "breakeven" and breathe a sigh of relief. (Only to kick themselves down the track).