MAY 0.00% 3.2¢ melbana energy limited

May Chart, page-10929

  1. 14,828 Posts.
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    Hi @orstock thanks for your acknowledgment there.

    re this statement

    "How in Gods name can any TA map out future developments, SP wise , if May releases an Ann tomorrow or in following days that states ...Zone X has produced a flow rate at Y barrels per day resulting in XYZ"

    Trend following TA looks at following  bullish and bearish momentum, and momentum is just the result of which ever sentiment is dominant in the market at the time...(positive sentiment up she goes, negative sentiment down she goes as we`ve just seen)..if something comes out as you`ve mentioned above then yes it might change sentiment enough to reverse the current trend and get it back in up trend...9 above 13 ema will show that positive change in momentum...momentum change though is often slow and subtle,  this recent change to the downside was very very quick and decisive in both price and vol.. so this will take quite a lot of persuasion imo.
 
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