Just a short update to the daily charts I posted back on 23/05....

Just a short update to the daily charts I posted back on 23/05. The Multiple EMA chart shown below presents a positive view on the recent price action. The blue and red EMAs show that the SP is still in short term uptrend. The red EMAs are above and bouncing off the blue EMAs. The longer term blue EMAs are spread and all pointing higher. The current price action is also tightly clustered around the 200 SMA, and the 50 SMA has just today crossed above the 100 SMA.




My VSA chart is shown below. I find that the VSA signals provide a good guide to the developing price action. The most recent principle Sign of Strength (SOS) occurred on 12/06 with a high volume Shakeout, as shown on the chart. The Close level of that candle/bar represents a significant support level going forward. Since that date there have been three additional SOS signals, shown on the chart as hollow green triangles. These are all "No Supply" signals. As the SP attempted to fall on each of those bars the Volume dried up, i.e. there was no supply at the lower price levels. The current resistance level that is still in play is the old high volume Close level from 17/02 at 6c.



So all in all the current price action is looking positive. As long as the 5.1c support level holds prior to the next highly anticipated news release, we should see continued price action in the 5.1c to 6.0c region.

Good luck everyone - All IMO of course.