I am no charting specialist but do know that in nearly all cases a gap between a previous days trading range and future trading range gets closed at some stage. This can take days or months. In this case there was a gap @ 0.675 in the last 10+/- days and that was covered today with an intraday low of 0.67c. This could be the final low for LNG.
Check the last 30 days OHLC chart and the gap is obvious. You will only see this when using OHLC format chart.
Next Tues will be interesting. Could still go lower, but now the gap is closed, it is far more likely to return to its upward trend within the week, and strongly at that.
I have seen this happen so often in past years that it warrants watching the intraday market very closely next week.
Outcome: a golden egg or egg on face. Being easter I hope its the golden one. :-)
LNG Price at posting:
68.5¢ Sentiment: LT Buy Disclosure: Held
