This is what i am talking about - entered into a new channel with mid 6s on the upper trendline and mid 5s at the lower trend line within the uptrend channel at where the ma200 sits. The indicators aren't severely overbought so could still have a bit left and the all important MACD has made a good signal. There will be decision time soon regarding the SP and the channel it wants to sit in in regards to horizantal and diagonal trends. See the triple lines converge to 6.5 and the lower green line. We could trade within this in the next few days to create a squeeze. I would be comfortable buying if we test support at 5.6 c tommorow at support is confirmed as we could c a run to 6.5. If it runs to 6.5 tomorrow, i would want to c what happens from there. then it becomes a tad risky and becomes a strictly momentum trade as the risk of a retrace increases. Some might say there is a gap at 5 c. This is a real probability however during a breakout, in the ST there is a low chance so always use other indicators as if sentiment becomes extremely bullish we might not c the gap closed in the short term and players will miss out on some good gains. The next few days will be extremely interesting and one i will be placing on alert.
SFI Price at posting:
6.0¢ Sentiment: Hold Disclosure: Not Held
