MAY 0.00% 3.0¢ melbana energy limited

Sorry Delux, we don't check in here much during the day. Again...

  1. 14,638 Posts.
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    Sorry Delux, we don't check in here much during the day.

    Again it's reacted as per what we'd want / expect. On the daily we just want to see candles printing on or above that yellow 8ema. What we don't want to see now is a break of .035 as it will trigger a lot of folks to close out as it will be the first lower low for nearly 3 weeks.
    As today finished on it's high of day, it suggests that there's a bit of demand around so hopefully a nice end of week. Bollie bands are now set to handle higher prices therefore a close above .039 would be quite bullish IMO.

    The negative I see is that it was a kind of fake action close with the final trade at 3.57 at .036 cents and the at the 4.10 auction it skipped to .038. A bit strange really and could easily open tomorrow morning at .036 so worth keeping in mind. Sure it made the chart look great but sometimes you need to look a little deeper.

    Cheers

    https://hotcopper.com.au/data/attachments/6507/6507299-2e8a5a463db142605eeb6d2ef0741f8f.jpg

 
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