Chart, page-7850

It is very enjoyable to watch the accumulation of the last few days.

Buyers have to step up to meet the offer rather than sellers hitting the bid-this tells me that supply is running out.
We now have a number of gaps left on the chart-and as mentioned previously, I suspected that the initial gap still left at 21-21.5c may well be breakaway gap. The others, from 23-23.5c and today from 25-25.5c may also remain.

So what are we looking for technically at this stage-I am looking at FLC being in the early stages of a 3rd wave move-this is the strongest wave in any move and quite often leaves numerous gaps if the trend is powerful enough. But this needs to be confirmed and the first major confirmation is the resistance at 28.5c-30c being overcome.

We have a buy signal on the daily MACD and are currently trading above the 200dma, albeit only slightly and a close at or about current levels would suggest we have broken above it. I am still waiting for the 200dma to start rising, but it is very close, and we do have the 100dma rising already.

There is no reason to party yet, and we all know there have been false starts before, but this gradual rise is encouraging as it speaks to accumulation.

imho