Alright guys here's my 2 cents.
The way I see it this could be the potential reversal because:
1) A spring is formed at today's closing price. If you don't know what is a spring, it is when the bears are unable to hold prices under a broken support area. We see that the price has touched 17c today (where 17.5c is the support as I've mentioned in previous post) and sprung back. This should be viewed as a bullish development because such action proves that the bears were unable to grab control of the market when they had their chance.
2) The fast SMI starts to inflect as we've seen two weeks before. Remember everyone was saying this could go 28c next week bla bla but the next session had proven it was just a false signal lol.
I'll be watching this closely tomorrow, I have a good feeling about this. Yes I'm biased but I'm not holding at the moment, just waiting for good buying signal
