GXY Charts, page-84

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DrFork

4,136 Posts.

25/03/16

19:59

Post #: 17362312
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Originally posted by airconditioner ↑

Hi Nambo - I'm not an experienced chartist like yourself but IMHO Purple seems a bit overly ..err.. erect and red doesn't seem as likely given the positive effect and FOMO that starting production next week will have.

Every time I see the chart I see a gentler but inexorable centre line that seems to hit the main price line and allows for testing new highs and then for support to catch up. Its very approximate (and probably very ignorant) but it does suggest the very reasonable possibility that we will test 30c in the next couple of weeks and by May have the start of strong support there. The effect is similar to your bottom purple but as a midpoint and seems to best reflect what the stochastic chart is saying - resulting in the approx 1c supported increase a week.

Hope you don't mind me using your image but I added a quick orange line to indicate sort of what I see.

View attachment 160011

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All good A/C. Just thought I'd share as it looks similar to the breather the PLS chart is taking. I don't hold PLS but posted a chart there in the last few days.

Fundamentals are different obviously but CXO which I hold is also in a bit of a sideways hold. I have no problems with anyone using my charts. Feel free.

Just one thing to bear in mind the news we are waiting on may have already been factored in the price so could disappoint.

GXY Price at posting: 24.0¢ Sentiment: None Disclosure: Not Held
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