DRE Chart, page-1572

Looks like we are about enjoy the benefits of our awaited bull run. It's taken a while to play out, but appears that we are now on the move again, according to the technicals. Of course any news releases that adjust the fundamental picture needs to be factored in as a higher priority than technicals, but the picture at the moment looks pretty decent, in my opinion.

Weekly

We see the green w5 has finally made a nice turn upwards, and from a nice clean bounce off the yellow e21. The price itself has bounced solidly off the bottom expected in the last analysis - the 61.8% fib. Price has now closed above the yellow e21 and bounced off it (tested as support) as the low for the week, and we have closed at the highs of the week. I'm expecting this rally to continue into next week some. Potentially looking to retest current support at 0.100 with some minor (relative) resistance at 0.1125 (38.2%). Keep in mind that if this move gets any legs, it should start to feed off the massive bullish divergence and give us some decent momentum. Coupled with some strong news announcements anything is possible regarding time frames.


Below is the current price runway and targets. Keep in mind that the fundamentals must support these values. If they story that is Dreadnought continues to strengthen, then the following technical targets will be reached in due course. After breaking through the current high at 0.155 and using it as a tested support, then we should be on our way to D1 at 0.225. I don't expect Roth's target at 0.24 to be tagged without a solid retrace prior off the 161.8% (our current D1 target) at 0.225, a technical target which predates Roth. If and when 0.240 is tagged, it will be likely for it to continue to 0.265 and eventually onto 0.335. Under the right circumstances this could happen quite quickly (relatively speaking - we are looking at a weekly time frame, so "Months" would be an appropriate word). For now, I look to 0.155, and if things go well, followed up by 0.225 in the longer term