An interesting week. Market depth has literally flipped, we only...

An interesting week. Market depth has literally flipped, we only hit a new low 1 time and a new high 3 times. (Shown below)



We have 1st support at 25 and very strong 2nd support at 24 and our pivotal pount and 1st resistance is 26 (shown below)
As for the charts, we are still oversold sitting at 10 / 11 but nicely in the boly bands with a bullish belt hold which occurs during a downtrend, a white body occurs with an open that is also the low for it. This may signify a start of rally for the bulls.
The larger the white candlestick is, the more significant it is (Shown Below)





The only very small and not reliant negative I see (and I am not trying to scare holders, or push the price lower, just simply saying what I see) is that the last week we had similar trading and charts to this week on similar volume was the week of Australia Day, from 23rd -27th Jan and then it slipped to news lows.

Fundamentas have strengthened since then with results and IBM so I don't expect it to repeat that behaviour but it has once before on similar trading.

Would love to see it close and hold above 31 this week as that would mean a clear reversal but I think it will need some volume / news to do this.


Apologies, everything was done on the phone while sitting at the shops.

L.G.