SLR 0.00% $1.57 silver lake resources limited

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  1. 14,914 Posts.
    I cracked and bought at 39c this morning. It looks like its either going to keep channelling up, in which case, 37c was about your best chance, or it may drop back to around 34c and do a bit of an ascending triangle to 40c, before it pushes through. Interesting that there was a doji candle yesterday which tells me it might actually be a channell (it signalled a equilibrium in the market before rising again, IOW it formed a bottom before reversing).

    Also if it were to form an ascending triangle, yesterdays trading would leave a huge hole in it, making it less dependable. So from here it could form a small ascending triangle within the channel until it pushes through 40c and breaks out within the next 3 days. Volume dropped off today on the profit taking, which is a very good sign. OBV pointing in the right direction.

    This is only my interpretation and my charting is a work in progress!....Anything could happen really, but one things is pretty certain and that is a break of 40c in the near future...!
 
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