springtree move, page-15

Oh just to clarify here,

"we now are looking at a retrace that as you point out,wotzon is heading for lower low for July"

Agree the short term up trend line from 40 cents has broken but I'm still waiting to see if 52.5 cents will break. When I said short term lower lows I meant the immediate one of 52.5 cents from 7/7/11. At least the Tata progress may now be giving some support to the price, as again may also be funds possibly now flowing into this area with the renewed sentiment on the alternative energy sector - the latest of course being our Governments intentions around the Carbon tax. So should 52.5 cents break I'm left at the moment uncertain how DYE will trend after that, either repeat its 3 month rhythm of small steps of grinding lower highs/lower lows to a new low in the next months, or bottom churn maybe at least retest test 40 cents, or still turn up. Yes externals like how the global debt crisis concern play out could impact also, however in medium term assuming there are no negatives, there is a good case for DYE's trend to turn bullish in my opinion but no certainty for sure.