CNX 0.00% 7.4¢ carbon energy limited

chart, page-91

  1. 1,920 Posts.
    I don't want to scare anyone, but I feel this could be a possible timely warning. Looking like a small H&S formed on the CNX chart, I'm sitting out for now. I think good chance it will re-test the target around 37.5c, which just so happens to be around the 200dma, which could then produce a decent bounce! :)

    RSI has just broken below 50, with obviously MACD in negative territory. This has been happening on very small volume, so an aggressive accumulator at 47c could negate this theory, but I believe US market likely has a quick little fall to come, which only a very aggressive buyer could counteract.

    I suspect SP500 will re-test approx 800, which will be a quick down move within the next couple of weeks, likely on very small volume, setting up for a decent rally after that imo. Looking like we're likely in the silly sell-off phase. This retrace to approx 800 on SP500 should produce an inverted H&S. Then likely a good rally into July. Just my thoughts, and you gotta do your own thing.


 
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