Hi All, hope everyone's having a great weekend. It's been a while since I've posted some charts here but I've got some time finally to do a few.
Ausviet, had a look at ESG for you:
Looking at the long term picture (1st chart), its been trading in a range of roughly 0.75-1.00 for the last 12 months, and the 195EMA is running roughly in line with the 38.2% fib retrace from the August 09 high.
If we look at its more recent movements (2nd chart), its actually advanced from below the low point of the longer term trading range and risen within a channel to now just around the middle of the LT range. Unless it picks up almost immediately it looks as if it may fall out of that rising channel and continue within the longer term range.
Its a pretty long term consolidation pattern that it looks to be in, but if anything its momentum is upwards rather than downwards. Good luck with it.
