ARL chart, page-3587

Technical, always like these kind of posts.

Yesterday we broke out of wedge pattern and got confirmation today, but got rejected from lower bollinder band of a parallel channel. This channel is really important, especially upper bollinder band. This lower bollinder band price is 0.575-0.58, which is exactly where we got rejected. That means for short term we could come back to 0.53 - 0.54 c. But it was really important today that we got support from 0.54 and didn't fall lower from wedge pattern support. To see price action move higher, we should break 0.58c level, take price to 0.6c, come back and test 0.57-0.58c level. If this will be a support, we see price action steadily climbing higher. Next major major resistance level will be around 0.76c. Toughts:

If we reach to 0.6c and can stay over 0.58 for couple days, we could see price action climbing slowly higher. If we don't pierce 0.6, we could stay bouncing between 0.48-0.58c until march news. Now everything depends on the news, if they are really good news, then we shoot easily through 0.76c and probably won't break that point anymore. Price action could test that point, but probably won't break. Staying higher for longer and keeping SP moving steadily higher, we need good news. And finally 50 day MA and 100 day MA are turned their down sloping trend and they face now higher, which means we have good support on 0.5c in couple of days.

The closer we are getting to march news, the higher would be daily volume and that helps pushing SP. But again, now everything is stuck on good news expectations. We really need to pull out something from this project to keep SP 0.76c+