Daily Positives Stoch 5 is above the sig line & is rising Stoch...

Daily
Positives
Stoch 5 is above the sig line & is rising
Stoch 14 is above the sig line & rising
Histogram is rising toward zero.

Negatives
Stoch 5 is very wide & is in the bearish zone below 50.
Stoch 15 is very wide & in the bearish zone below 50
MACD is below its sig line
Histogram is below zero
Inside gap at 0.155 – 0.16
Fri vol was lower than the prev bar & was net selling.

Outlook.
Despite the apparent recovery & close back in the 16.5 – 18.5 range, the daily chart looks weak & appears as just a relief rally. Last week’s high is at a resistance area of converging trends.
Fri high reached the 62% Fib retracement measured off the high at 0.19 & last weeks low at 0.145
My models show upside alerts so I expect to see a retest of 0.175 again before retesting last week’s lows down around 0.15.
First support is at 0.16 If that fails then there is a high probability that we will continue down to the 0.13 – 14 area.
The daily is heavily manipulated & just noise. Short term fluctuations are best ignored & left to the traders.


Weekly
Positives
The rising trend is still intact
Closed in the upper half of the weeks range

Negatives
Stoch 5 has crossed back below the overbought line.
Stoch 14 is still in the over-bought area
MACD is curling over/going flat
Histogram continues down toward zero

Outlook
The uptrend continues as does the games.
The retest of the support seems to have held & Vol was relatively higher than the prev week & the long tail on the bar gives the impression of support.
However, selling continued for the 7^th week in a row with net selling of-3,725,850.

My weekly models show multiple downside alerts so I expect to see lower prices than the close.
Resistance is currently 0.175 – 0.19 & support at 0.165.

Breaking below there & closing in the old range would not necessarily be a bad thing & is possibly already being signalled by the indicators.
Support down there is around last week’s low around 0.15.
I don’t expect to see much headway or breaking resistance for some weeks without substantial news & the indicators, particularly the stochastics need to come down.

With no catalyst for change I will not be surprised to see 0.125 – 0.135 again in the coming weeks but that won’t change the long term trend if it happen & it may not anyway.

Meanwhile the construction of the 12k ton plant continues