july pivots, page-23

Another potential test today, testing yesterdays up bar.

Opened high, dipped down & didn't find much supply, closed high.

An up day tomorrow will confirm as successful.

Still some resistance around $2.11 - $2.12,

then $2.19 - $2.23


Sadly on the weekly chart, with one day to go, it is looking like No Demand (narrow spread up bar on lowish volume, not enough power or petrol to push up the hill so to speak).

Still, using a PnF count, we havn't built up a strong enough cause yet, if we were to push up higher from here the potential target would only be about $2.70ish.

So for a longer term view, a bit longer in a trading range bouncing around a bit for a few more weeks shouldn't hurt, if we stayed down around these levels (say $1.91 - $2.25) until mid Septenber, the PnF count would rise to around $4.00.

just speculation anyway ....

have to wait and see what really happens....

cheers