Hi all,Just thought I'd jot some thoughts down here. From what I...

Hi all,

Just thought I'd jot some thoughts down here.

From what I see, I would usually interpret a chart like this as one looking to breakout fairly shortly. Next week or so. The range is tightening and coiling amongst candles and the two indicators I use in the RSI and MACD. I would expect the breakout to be to the upside. Having said that and knowing what I know about BKT it makes me doubt my interpretation. It's not really one for explosive moves. We are expecting a cap raise and I think this is holding people back from pulling the trigger. We also have the Urbix situation which, if we get positive news, would force a strong move I think but if negative we'll drop back even though we've not moved that far since hearing about it. We're also still not out of the woods from a global economic and geopolitical stand point but that seems to be of less concern to people now.

Perhaps if we changed up where I've drawn my lines and bring them into more of a rectangular box then someone might say it's an accumulation period before a breakout. I'm not an experienced enough technical analyst to be definitive. Anyhoo, I'll stick with my first theory as I like to try and plan for breakouts as a part time amateur trader.



Have a good weekend,

Rego