@thecone "So is the chart pointing to an early spud or a delay in your opinion"
That's a good question and this last part of the TA cycle here imo is showing some enthusiasm and or expectation of something positive, if price can get through 2 x 62% Fib levels in close proximity to each other as we have here that's very bullish, its telling us that it wants to trend higher imo..
The 1st 62% Fib at 069c was broken and is now being back tested, the next one on the upside is about 073c-074c, if it finds support around here on this back test (not specifically by price always but sometimes price and or moving averages. previous res levels etc etc) and then pushes up again through the next 62 Fib this is telling us it want to go up.
Breakouts and up trends build on a series of conquering the 62% Fib levels.
Down trends and ranging prices do the exact opposite they resist strongly at 62% Fibs
Daily Chart, A bit long winded but its a rainy Sunday where I am!
