chart update at 1100 on 20 may

Hi all,

For those who are interested, this is how I read the recent price action, including today (20 May) up to 11:00am.

You will note in the attached chart that there is an orange rectangle which borders the recent price action. At today's open, I expected to see the price drop to $2.73 which would achieve an exact touch on the blue line marked as the 'External 1.618 Fib line', thereby completing a test/retest pattern of that line as support. If that line holds (that is if price does not close below $2.73 this afternoon) then I would expect price to use this confirmed support level for the start of its climb back up. The price gap at $3.40 - $3.55 would seem to be a logical intermediate target.

Fingers crossed for a close at $2.73 or above today!

Regards,
Bones