look, technically, if it re-tests 6.45ish and doesnt break it in the next few sessions, itll naturally head back down. But it could break it, if we get another higher low, and thus a decent looking chart formation with an upward triangle. One or two more stabs at resistence with a higher low in place could see it broken
the Moving Averages look ok and MACD is obviously narrowing and getting better
We've had an upmove, then a pullback and then another couple of upmoves hitting resistence with some higher lows
We need another a higher close at 6.40 or over with a higher low and a cpla more solid updays on the ASX and it should do it
Then again, if we test 6.45 again a couple more times and it doesnt break, then we'll naturally head back down to a lower support.
The chart doesnt look all that bad to me, but resistence must be broken soon
Once it breaks i think ADX over say 14-days will start to look good
Again, i havent even checked the indicators, im just using my instinct and roughyl measuring the indicators from what i see.
good luck
TOL Price at posting:
$6.37 Sentiment: LT Buy Disclosure: Held