Will add an updated chart to go with those earlier comments.
this is what had to be careful of - the breaking of that 12cent area, but really it should not have been the 12cent but more like the 9/10cent area is the last of the bullish (buying) volume. that 12cent level was the first sign of weakness way back then .. but unfortunately it is now in a 'not knowing which way but atm certainly not up' mode. that 9/10 area may provide the next level of support. the last few days have all be weak in appearance.. add that to the 'not knowing which way' feel and it was always going to break south. the last 6bars have made all lower highs plus near all of them have closed on their butts.. that is easy to read and no need to be an Einstein to have predicted its movement.
MBN Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
