Time to revisit after the prolonged period of chop as momentum thanks to structural market deficits seems to be starting to flow through - green shoots as some say
What interests me -
Daily - short term:
Volume had been declining throughout June and July when price action traded down from the 20c level to trade in a 4c range since then. Today and the coming week for BKT will be key re volume, with a pick up yesterday to support the move back off the 43 day MA.
Price action had broken up through the 43 day MA mark last week, has held and is now moving higher off this level = very positive!
MACD printed a positive cross late June off the back of the print at 13c and has been trending back to the important 0 control line since. With the MACD now moving through the 0 control line, this opens the door for more explosive and sustained moves higher - now becoming a buy the dip scenario.
RSI after printing a deep oversold print in June has been steadily trending higher and has plenty of room to move before an over bought signal is evident.
Iam expecting price action to move back into the 17.5c - 19.5c zone today, as to how long it remains in this region is anyone's guess??
View attachment 4570660I'll chat weekly / monthly - longer term setups if people want to hear it, otherwise i'll leave it there for now
