Daily 30 July Positives MACD is above its sig line. Histogram is...

Daily 30 July
Positives
MACD is above its sig line. Histogram is above zero
Stoch 14 has flattened & remains in the bullish zone above 50
The trend is up & the s/t support at 0.12 held.

Negatives
Stoch 5 is trending down
MACD has dipped sharply & looks likely to cross below the sig line Closed at the weeks low

Outlook.
My outlook last week was for consolidation / weakness which has played out as expected so far but that is all just short term stuff & healthy for the sp recovery going forward.
So, the impression I get, is that the weakness / consolidation will continue for the s/t & this is now starting to be reflected on the weekly.
Frid vol was the lowest for the week & the net sell vol for the day was -1,384,192 so Frid selloff & close is suspect.
The change in sentiment & consequent re-rate that is underway will imo continue soon.
Short term pull backs should be expected & offer a great buying opportunity.
So, I see the potential but not a given for a dip down to around 0.11 – 0.115 as the momentum indicators come back down. That may take a few more days on the daily & longer on the weekly but they do need to come down more yet.
That does not neccessarily mean a lower sp.
Resistance is currently still around 0.13 – 0.135

Overall, the daily charts are bullish & will still be trending up even if we dip to 0.105.

Weekly
Positives
Stoch 5 is in the bullish zone above 50
Stoch 14 is in the bullish zone
MACD is trending higher
Histogram is above zero
Remains in the top half of the projected range

Negatives
Closed at the low
Stoch 5 has flattened & returning to the sig line
Stoch 14 has flattened & turned down from the overbought line & is currently crossing back below its sig line
Volume failed to increase as the sp reached the resistance

Outlook
The momentum indicators are near their highs & may go higher with a retest of last weeks high but they will inevitably come off so it may as well happen now.
Given that it usually takes a few weeks for these to come down I don’t think we can break out of the 0.11 – 0.135 range just yet but hope to be wrong.
Consolidation for the next few weeks looks more likely imo.
Net sell vol increased during the week & the reported short selling numbers (if they can be believed) were relatively high as of Thu.
So it looks like we are going to test the support at 0.12 & potentially the breakout point down around 0.11. Ideally that would have lower vol if it happens.
Weekly resistance then is around the top of the box at 0.13 0.14 & support is 0.105 - 0.11

Monthly
Positives
Stoch 5 has crossed its sig line & the above the oversold line
MACD is above its sig line & rising
Histogram is rising & above zero
Third higher High & Low  with Increasing vol

Negatives
Closed back 50% of the month range

Outlook
The old mthly range was 0.085 – 0.12. We have attempted to break out of that range during July but imo have not done so conclusively at this stage & now need to retest the breakout point (if not already doing so) & close above it on the next bar.
The monthly breakout target from the old range is 0.155 & the July high saw the mid point around 0.14 reached & pull back to the break point. That happened with a significant increase in volume & is all text book stuff & a great sign.
The monthly chart is very bullish looking imo but we are at resistance at 0.12 or is it support? And after looking at the daily & weekly charts a dip to the rising trend currently around 0.11 is likely, as is a retest of the July high & higher.
So, during Aug we will want to see higher volume & more buying & a close at or above 0.14 to validate the breakout.
The current resistance is 0.12 -0.12 & support around 0.11.
The indicators are all lined up & positive at the same time.
If there are more updates with something new in them in the coming month there is no reason why the sp can’t be well above the current price.