If it gets down to 55c this will be the fourth time the price will have been at this level in recent times. Fortunately at the previous attempts the price recovered and turned higher. However if we were looking at the inverse of this ie at a price high we would be saying with some confidence that at the fourth attempt it will break through and go higher. I will presume the TA interpretation for highs applies equally well for prices at their lows. If it goes through 55c the next support level is at about 45c.
Apologies in advance for this sort of comment.
redgum
are you ready for 55 cents, page-6
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