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1,445 Posts.

15

21/03/17

08:53

Post #: 23499417
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Originally posted by W3hunter ↑

We might have seen another pivot high here today (082c).price reached the upper trendline which is also a 62% retracement of the last down leg from 09c -07c...its been 17 trading days now since the high at 11c and we havet yet had a minimum 50% retrace of the whole uptrend 023c to 11c. (50% is pretty standard for any correction 62% is even more common). theres been 3 other pivot highs during this downleg (11c, 10c, 09c) each one found resitence at a 62% Fib and then led to a new low in the opposite direction...I think this week we might be testing the last low of 07c and possibly even see a new low. View attachment 513138

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I think a new low (in the short term) can only be prevented by the fabulous ann that all here are waiting for (and then sell into). After that, it's anyone's guess, but the chart will indicate.

MUS Price at posting: 8.0¢ Sentiment: None Disclosure: Held
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