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SVL chart, page-2989

  1. 711 Posts.
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    Sorry rockboy, disagree with your statement above. What you have posted is divergence, which is an indicator of a SP fall imminent, not climb. Why?
    Also not a ascending triangle. It's just a SP climb with resistance at 20.

    -SP has had a good run and needs to take a breather, consolidate, and .20 is a good number to do it at. Note below my first circle how the SP came back to the median bollie, this needs to happen again in the second circle (well atleast the 8ema or maybe the median).
    -Candles show tweezers at the top (reversal sign), and todays candle not showing any signs of punching higher.
    -Bollies are wide and need a reset.
    -RSI is bouncing along the overbought ceiling.
    -Volume dropped off, (people lost interest?)

    However!, the SP will run again, I have no doubt in that. Pull backs are healthy. I'd even say the next run maybe upto 30?
    As H63 said above, people are waiting for the POS to break $30. IMO, $26 was great, but $30 is the magic number.
    GLTAH, finally some POS movement, waited 4years for it!

    https://hotcopper.com.au/data/attachments/6091/6091775-f0b8a1c0733ac8edb8176a5913950db1.jpg

 
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