ERG - ANY CLUE???, page-5

I don't think any chartist who thinks in terms longer than a few weeks would say it is in an uptrend yet.

Step out the chart to see the big picture and you will see that the downtrend may have stopped but it is still bouncing along the bottom.

In my (conservative) chartist view it would have to break 40 cents or so before I'd concede that it may be at the beginning of an uptrend.

On charts like ERG where the start of a trend can be almost invisible after such a great fall I tend to use the ADX indicator to tell me whether we have a trend. When it starts to trend I start watching. At the moment it is still fairly flat.