2023 CHART THREAD, page-1351

Time for a chart update I think. This is a chart thread isn't it? There seems to be a lot of the general speculative blah blah blah, know everything, know nothing, stuff that you get on the other "anything but charting thread", along with a bit of the chart bashing stuff suggesting that charts don't work, the sort of stuff that I have come to expect now. At least Patience hasn't bombarded the thread with his random thoughts yet.

The updated chart provided below has a bit more history on it as well as a Fib Retracement indicator and my Volume Spread Analysis VSA indicators. These indicators are all simple Price and Volume indicators. The thick blue horizontal lines and the shaded zones are my Anchor Zone levels and areas as described on my previous post.



Along with my VSA indicators I added a Fib Retrace Level indicator using the low of around 3c back in July 2023 and the high of around 21c in September 2023. It surprised me how the Fib levels have come into play in the subsequent price action. I always pay a lot of attention to the 50% retrace level ALWAYS!! This was around 12c and when it and the ultra-High Volume AZ Low level was breached the 23.6% Fib level at 7.4c quickly became new support. In the past week with a new positive Broker Report the speculative price surge stopped at 10c.which just happens to be the Fib 38.2% level and the prior High-Volume AZ Close. No surprises there! The most significant price levels in play currently are the "Stopping Volume" Close level at 7.4c (the cursor/vertical line with the solid green triangle Dec23 on the chart) the Fib 50% level around 12c (Ultra-High AZ Close level from 28/3/2023) and the 10c level which is not only the 38.2% Fib level but also resistance at 10c. My personal opinion is that these levels of support and resistance will continue to play out in the SP's price action until some significant news regarding success or failure of the PL5 or PL6 or whatever is released.

Once again, good luck everyone.