price movement, page-12

Hi Pajm,

I have attached a chart that explains what I think will happen in the immediate future. The chart contains a medium term (navy) pitchfork and a short term (pink) pitchfork which has the main focus.

I think there is about a 70% probability of price following the path I have described on the chart (see details on the clickable chart below).



If price is unable to push above the pink Median Line (ML) when it retests the resistance of that line (within the next three days, if not tomorrow), then price may fall back to the 28.0 cent level before having another go. I have not marked this outcome on the chart as I think there is only about a 30% probability of it happening. I mention it here though, because it is still a valid alternative to price successfully pushing through the ML as I have marked on the chart.

The stochastic is still pointing up, which indicates there is still some upwards movement left in the current run. I will be keen to watch early volumes in tomorrow's trading to see what strength lies behind the current move and whether ongoing buying will sustain it.

Regards,
Bones