chart

I decided to start a new thread given the title.

Yesterday in response to a request from Crisis77 I posted a reference to RES' SP from a charting perspective & once again I apolgise for not posting an actual chart (I'm in the process of setting up my photobucket account).

I highlighted the fact that yesterday's intra-day low of 0.475 touched on an established support however the SP actually closed slightly higher than this, bouncing off such a support. I went on to explain that we could possibly see the formation of a Bullish Engulfing Pattern today signalling the culmination of the decline & as it turns out that's exactly what's occurred ;)

Today RES' SP closed at a day high of 0.50 & in conjunction with the open & low formed the candle required for confirmation of the Bullish Engulfing Pattern.

Today's volume was slightly higher than the previous three days & today's close crossed above the 5dma.

Watching the trading action during the afternoon it was clear to me at least that the bulls were in control over the bears hence the formation of today's pattern.

Once again I apologise there isn't a chart however I hope this is of some benefit nonetheless?

CLM