The the sideways price action continues-not surprised that the 3 gorges announcement didnt see more upside momentum as it seems the market are looking for revenues, not future prospects of revenues, albeit very promising.
In my previous post I mentioned the support area of 26/26.5 which has so far held, and interestingly the 15 day MA has just crossed over the 40 day MA for the first time since January this year, and price is sitting right on these MA's.
Slow stochastic and MACD are both now showing buy signals and the DMI is still neutral.
Still want to see a sustained break above 30.5 to give more weight to my micro elliot wave count.
Yes, charting in all respects is subjective and open to interpretation, but fundamentally it is hard to see FLC below 20c (never say never-haha!)
The the sideways price action continues-not surprised that the 3...
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