chart chat

I think the downtrend has not been broken.

However, I am hopeful the right building blocks are in place and it is on the verge of being broken.

If we get a close above $1.74/75 in the next few days then I will be more confident. However this price resistance is falling by the day given it is generated by a downward sloping trend line.

Coincidentally, this is where the 35day m.a. also comes in. BMN has struggled to gain any permanent traction above this m.a line since it peaked in December last year.

The real signal that we have a trend change should be happen when we get some the shorter term 7day ma. crossing over the 35day m.a..

As I have stated many times before, I only possess some very basic charting skills so maybe some of the smarter & better qualified chartists would like to offer their opinions on this one.