ADN CHART, page-2801

A shame the share price couldn't go on with it to test the 200 day at 4.35c, which also coincides with the next Fibonacci retracement line. Back inside the bollinger today with a late day sell off to follow the broader market.

On a positive the gap created from yesterday's pop back to 3.7c has no closed. MACD still trending positive over the 0 control line, with the RSI pulling back. I think we will either need to see a decent night on the Dow or some more good news to see the 200 day tested, otherwise a back test to the 15 day MA and Fibonacci retractement line at 3.4c and failing this level then the 30 day MA at 3.1c will be on the cards before the next leg higher.

Would obviously like to see 4c+ tomorrow or at a minimum the 15 day MA test and a nice bounce off this level. Otherwise if the next leg down for global markets and a re-test of the recent lows are on the cards its fair to say that ADN will continue to drift lower until risk appetite for the small cap non producing miners comes back in.