An Update to the
S/T TA Picture ... The Fib range 'target' of
73c proved spot on (see
https://hotcopper.com.au/posts/55780982/single ) and then the downside corrective potential of
58.5c(as per
https://hotcopper.com.au/posts/56144567/single ) was close enough. It took the temptation of someone selling to our intraday changeable daily *
OTM* 700,000 buyer to be hit at 56c to stop the early morning 'panic' sell to take it below that 58.5c level. Well done to that buyer!
Ok, that was then, but now is now. The good thing, even in this S/T Time Frame(2_Hourly Chart) there has been no real 'structural' damage to the chart and therefore the S.P. The reaction early this a.m. once we hit 56c is encouraging and our daily close also. However, the next couple of days should clarify the next direction. Either confirmation resumption of the M-L/T uptrend(>67.5c on close), or another S/T pullback to test the
58.5c-60.5c suppt once that
GAP(67.5c) is filled, or 3rdly, we have to establish a new post 73c high low ... down to ~
54.5c - 52c ... before we resume the M-L/T Uptrend. Regardless, any dips should a good buying opportunity as I still remain bullish, from not only a TA perspective, but certainly from a FA perspective....
89c-$1.09Here's that Updated
2_Hourly Fib Chart(mentioned 1st above) ...
View attachment 3613604P.S.
*OTM* = Out of the Money
