'Best Fit' seems to be the reference point. Fakeout below the...

  1. DmitriMA
    3,577 Posts.
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    27/07/24
    09:07
    Post #: 74941455
    'Best Fit' seems to be the reference point.
    Fakeout below the trendline Thursday night, and closed back above last night, albeit still with some higher price rejection.
    Intersection of 50 day MA and trendline is a nice confluence of support. (But can also become resistance if the market goes lower, as we saw Thursday.)
    Keep an eye on this area...

    https://hotcopper.com.au/data/attachments/6340/6340138-2417c9d5131de4393055b293435ebc1f.jpg

    Last edited by DmitriMA: Today, 09:08
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    lightbulb Created with Sketch.  Great analysis
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