chart, page-33

Great chart analysis EWOB however if fundamentals are driving this run which its likely then the T/A wont factor in until the euphoria is over- I would expect this may run potentially to around 9c before ovverbought territory. In saying that the RSI is sitting around 75 and DMI+ (45)has broken through ADI early June and slowly come back before shooting up last few days , Volume also strong yesterday so look out to see if its repeated today, therefore strong indicators at the moment which should continue upward trend couplesd with announcmeent could stay in over bought territory for a while yet.

I would pick the share price will try to break previous resistence at around 9c - has hit 9c twice in past 6 months and failed so im assuming will be target as last time broke 9c was in January 2013 and if all elee fails the traders will profit take - ideal would be to let it run for a day or two before selloff- some minor resistence around 8.6-8.7c where we have had it close 3 times at this level before heading south


cheers BT