Chart, page-7510

Hi Folks

It's an Interesting stage at charting BRN we are at a cruz moment in the coming two weeks.

Firstly the bad scenario , short term . Reach a peak of 68c and Fib down A wave 68c to 48c , followed be a bounce back B wave to 52.5 c only a 23% retrace bounce. C wave possible extentions lowers point to Ext23.6% = 43.9 , Ext 38.2% = 41.5 .

I suspect that these maybe targets, unlikely but I have seen stranger things happen.

Secondly a another alternative scenario.

BRN set a recent low on the weekly chart of 30.5c then in an A wave advance rose from 30.5c to 68c.. Then a B wave retracement from 68c to 48.5c which was a 52% retrace. Quite heavy. Next C wave extentions Ext23.6 =76.5 and Ext38.2 = 82.3.

The retrace on the last rise was severe 52% so I am looking at under 23.2% maybe about 71c.

Signs that this is playing out is to look at the weekly charts and the weekly hi-lo candles. Look at the 10WMA line, as long as the weekly hi-lo candles do not trade entirely below the 10WMA line for one week we are still good, but if it happens for two weeks we are dead.

Just the way I deal with the markets, DYOR.

cheers Lies