I did end up selling a few of the trading parcel today... not...

I did end up selling a few of the trading parcel today... not all - just enough to keep me on my toes. The dark cloud cover/evening star type pattern doesn't look good to me - reminds me of similar FML tops over the last 18 months. See chart:





Today's close below the half way point of the first candle in the pattern (circled in white) is bearish. The close-up of the chart (below) shows it better:







It's the same type of pattern that I mentioned back in Sept when we couldn't hold 6c after the run up from 3.5c. (See the other white circle to the left on the first chart.) That's why I said yesterday we had to close at 6.7 or above.

The 50% fib retrace is at 6c and I think we may get there... Indicators turning down, too. 5.7 looks like strong support to me but I wouldn't bet on getting there... (wouldn't bet against it either, Mdm. Not just yet anyway.) Bearish ST for POG if it can't hold above 1400, too. (That would be the fourth time - quadruple top)

I stress that the above is my ST view - plenty of good news to come with FML so I'd just hold if not wanting the stress (or excitement) of trading... This is just what I see... I might be wrong, might be right... Any fundamental news, of course, will make the TA somewhat irrelevant IMO but I guess the traders who rode it up from 5c are thinking that there will be nothing from FML for a few weeks at least so they'll take profits now that this little run is (seemingly) over.

NB: I did notice in the auction that someone wanted in at 6.5 for a couple of mill so still decent support.

DYOR,

Cheers,

C12