Short answer. NO.
Attached is the updated chart showing the gaps
Looking at the longer time frame charts its clear that we could go lower than we are now. I don't know if it will but if it does then I see $0.16 as the lowest I would expect it to go.
That is the low of the current established range ($0.16 - 0.22) since we broke out of the previous one.
A dip down to $0.16 would not be anything out of the ordinary in that context.
We are currently testing the mid point (0.18) of this latest range and as such I would expect to see a bounce if that halfway point is to be confirmed as support.
The daily chart being very quick seems to be indicating more selling to come ($0.17 is the daily 62% fib line & $0.165 is the weekly ) but the weekly so far looks more solid & we have possibly seen the low for the week at this stage.
I don't know what to think about yesterdays candle, that would be really bearish if it appeared at the top and high but having formed down lower I don't know if it is as bad as it seems.
Should be an interesting day I think.
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