After last weeks doji candle, we have an ending volume / climax candle that touched the 1.8c double bottom after a brief visit under the trend line. I don't think many of those 1.8c buyers will get filled, and the trend will begin to turn around, or consolidate in the 2's.
Indicators are over sold, but still have some more room to the down side if it eventuates. I think this weeks red candle is the final one, the stale bears are exiting and it is always darkest just before the dawn.
I just think the double bottom will hold for now, that's not saying we can't get a dead cat bounce on the MRE news with the main up trend line subsequently failing.
ASR Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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