Hey Boss,
I've been looking (learning) into the price volume resistance stuff you and GF were saying and yes you are correct. Major price resistance at $3+. Given It has recently hit $3 twice in a wee and currently back at $2.91 and seems likely to test $2.78-80 again a which point it could bounce up, but recent history suggests that it might go further down till it reaches its real support. A sensible trader may wish to sell at these points, and buy back in at the support and swing it again. I accept all that, I'm just hanging around at this price level because i want to test a potential scenario that may playout (however unlikely it might be). So im like only a 20% in the green right, and happy expend some of that to "take a punt" on that potential scenario. Given i have taken on board the popular T.A put forward by you and @goodfella, the risk/reward scenario, would my decision be considered within the "scope" of trading OR am I being delusional, wreck less, grandiose? Just looking for some genuine feedback so have at it.
Below is a 1 hour chart, and yes the volume is definitely not on my side, but if volume was not an issue would this chart ordinarily suggest that EML is at a "Make or Break" juncture. This is not a EML specific question, but more if i am reading the chart correctly. Thanking you both in advance
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Last
$3.06 |
Change
0.005(0.16%) |
Mkt cap ! $3.890B |
Open | High | Low | Value | Volume |
$3.04 | $3.06 | $2.96 | $12.62M | 4.176M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
32 | 46492 | $3.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.06 | 171739 | 35 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
34 | 51819 | 3.050 |
32 | 107072 | 3.040 |
17 | 143560 | 3.030 |
18 | 203408 | 3.020 |
15 | 225376 | 3.010 |
Price($) | Vol. | No. |
---|---|---|
3.060 | 168193 | 34 |
3.070 | 211690 | 25 |
3.080 | 314697 | 23 |
3.090 | 283750 | 20 |
3.100 | 292721 | 29 |
Last trade - 13.08pm 07/07/2025 (20 minute delay) ? |
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AUSTRALIAN GOLD AND COPPER LTD
Glen Diemar, MD
Glen Diemar
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