Yeah it's turning alright but still hasn't turned, you'll know what I mean when you see it.
Expectations moving forward is that at best the SP trades sideways for a while while the technicals catch up (bands will reset into what looks like a squeeze) or while the bands reset the SP retraces. If it's the later, I've displayed a Fib rack of retracement levels with the 62% being a vital pivot point.
Kstnova, I would love the SP to hold above the 8ema to show a real bundle of strength but it is unlikely therefore we rely on the bollie median for support and I would expect that to be between the 50and 62% levels. IMO.
Now obviously this analysis depends on there being no decent announcement land.
Cheers.
EYE Price at posting:
27.0¢ Sentiment: None Disclosure: Not Held
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