QAN ...Chart, page-86

Today we see what is called a "crack & snap". With the support at the low of the hammer (weekly chart) broken the price closed under the 77c zone, hung around for 2 sessions and now "snapped" back up to that level.

Even though support was technically broken or "cracked" as long as the price makes a swift rebound and "snaps" back in no more than usually 3 to 4 sessions, then we can assume the support level is still intact.

Now we need to determine whether it was a genuine break of support. Which means the 77c level is now resistance, or just a crack and snap and business as usual.

It's tougher to determine this because of the see-saw antics of the broader market these days still feeling the ripple effects of brexit.

The candle for this WEEK is another hammer with a long lower shadow with the body around the low of the hammer formed a fortnight ago.

On the DAILY today is a very convincing bullish engulfing candle that wraps around the two previous sessions.

So in conclusion we have bullish indicators upon bullish indicators and in my humble opinion the risk reward of entering here looks very favorable.