Hi all
I have posted 2 charts for info only both with Fibonacci retracements on them. The first one is the 24Nov close with Fibonacci retracement. The second is a Dec06 - Apr07 retracement.
The SP remains within a longer term trend channel and without news will approach and may breach the 200 day MA. The MACD has crossed and the 8 day Ema has also trended down crossing the 89 day Ema. OBV is down trending and money is leaving under selling pressure. This all confirms the trend.
I thought it was uncanny how each of these charts showed a 62% retrace before a recovery back to a Fib line before falling further to the next level before recovering. Notice the similarity in both charts.
I have drawn an orange forecast line where the SP may fall to before getting a leg up. That is the 75% line which also occurred in April. The other scenario is that the SP continues on the path it is to 75% before rising and may retrace back to the 100% line.
Please take care when interpreting this chart and note that any news may cause a different outcome however for now the trend remains intact.
Cheers
BW
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.03M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000000 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 8588296 | 10 |
View Market Depth
| Last trade - 16.21pm 19/09/2025 (20 minute delay) ? |
| BPP (ASX) Chart |
Day chart unavailable