Mitta - think I'll sit back and savour the CVT thread and watch...

Mitta - think I'll sit back and savour the CVT thread and watch on as the SP consolidates and bounces back - without petty PC static.

Over the last few days there appears to be 2 doji candles - that are (normally) strong indicators of a significant trend change. In this case we have 2, a day apart.  

I take your point re possible support at the previous high vol days.
There's also a smallish gap at @ 40c that may be an attractor, plus the longer term support at around 36c from late 2014.

ATM there's a divergence between the stochastic and the MACD, with the MACD starting to look like it could be starting to roll over (upwards).  However, the RSI is still strongly negative, but moving into oversold territory, so it shouldn't be too long before we get confirmation of a trend change from the RSI/MACD.

Without a catalyst though, it could be a slow turn around. But with an announcement/catalyst the charts look like they're set for a positive over-reaction and an extended strong move up.

My next chart, in the next post shows a similar story.