Hi folks A follow up of my post on the 1st of March.Sorry folks...

Hi folks

A follow up of my post on the 1st of March.

Sorry folks my bad scenario seems to be playing out. quoted below.

"Reach a peak of 68c and Fib down A wave 68c to 48.5c , followed by 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 ."

What I left out was Ext50% = 38.7c and Ext61.8% = 36.5

Well we hit a low of today of 45c. With no joy at all from me, it seems my bad scenario will play out, without an announcement.

I'm a stats man and a chartist. I can't lie here is what I see as possibilities. Please remember I am not trading this period (except If I can buy very very low) I am in for the long haul.

Weekly charts. Unless in the next two days trading the weekly hi-lo candle can breach the 10WMA currently sitting at 53.5c . Not likely to happen.
Then for the first time in 10 weeks from when the weekly hi-lo candle firstly traded above the 10WMA (week 27 Dec) the weekly HI-lo candle will fall entirely below the 10WMA., very much a bearish sign.

Not confident into next week, barring any news, very much drifting lower.

It would be reticent of me, as a stats man and chartist, if I did not point out that there is a very big upwards daily upward gap of 32.5 (23 Dec) to 41 (24 Dec).

Not all of these upwards gaps are filled but over many years of observation more are filled than not.

I said I will not trade this period, but if that gap is filled I am in again.

Just the way I deal with the markets, so I am not surprised. DYOR

cheers Lies