MAY 4.65% 4.1¢ melbana energy limited

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    SP still above the 8ema after wicking out of bollies and needing to behave again. Trouble is, demand is only lightweight which you can see by the high wicks over the last two days. Still gave a daily range for those playing at home but volume and strength was weak today.
    MACD crossed yesterday but turned out to be a soft crossing, bollie median is also rolling over, the first time it has turned down for two months.
    I'm suggesting the SP will tag that median line over the next few sessions. Hopefully it bounces off there.

    Overall, the daily is still producing higher lows for the past couple of months, you can't complain about that.

    Cheers.

    https://hotcopper.com.au/data/attachments/5040/5040415-6abfb6e14184fad36e51eee121effa98.jpg

    Trade analysis for the day shows very little strength around the highs. Also note VWAP.

    https://hotcopper.com.au/data/attachments/5040/5040422-0297f86f6e390725632daec02194316e.jpg


 
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