ASX:LPD 1hr (Intraday) TFLooking at last weeks Bullish close and...

ASX:LPD 1hr (Intraday) TF



Looking at last weeks Bullish close and scaling back down to the lower TF's its clear that we could be ready for another Bullish rally this week as price has broken short-term downtrend of hourly Bullflag Pattern.

Confluence of indication is pointing up at this stage with RSI breaking short-term downtrend and crossing the 50 midway mark back into the bullpen (the key here is to see if we begin to trend north of the 50.00). MACD has crossed Bullish and the EMAs are beginning to spread.

Internal Measured move would put price back to Recent High and against Daily Resistance which could see some profit taken OR FOMO kick in.

Also note that price may be beginning to form an Ascending Triangle which is traditionally a Bullish Continuation Pattern. I would like for price to squeeze against Pattern Uptrend and below Daily Res for more confirmation of this.

Bullflag completion would be at 0.058 but we have some levels to break first as identified above.

Also identified is a Trend test which aligns with short-term Support at 0.043 if sentiment is to stagnate.

With expected upcoming news I see no reason why price would slip other than Institutions accumulating UNLESS product news is Bearish.

The Platypus XMAS party is only around the corner, hold tight

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