Here's the chart you requested- chart as at close of yesterday.
Note the following:
1. Pink line signal - now poised for a rehook - this can be seen from its level which is now in the oversold level, compared to previous past lows. Today's ( Friday) dipping represents a good opportunity from the technical perspective.
2. Aggressive traders - follow the pink line esp a rehook at this oversold level, for re-entry. Conservative traders may like to follow the blue line for a re-entry - a little slower, but less "stress", as can be seen from past signals.
3. Gap at 0.40 cents has been filled.
4. Test of the bullish position has occurred this morning (Friday) where price tested the 200 bar simple moving average on the HOURLY chart at 0.0385 - traditionally this 200 sma has been the rebound level, all things being normal, there is expectation that a test or re-test will likely be successful.
5. Wave counts indicate present pullback to be part of the 4th wave, where first 4th wave retracement is pegged at 0.037 ( there is another possible 4th wave retracement at lower if this first 4th wave level fails ). If the 200 sma holds, this 4th wave retracement level is expected to establish the low for a rebound occurring next week.
6. Over this session or oncoming sessions, a rehook on the pink line, to be followed by a rehook on the blue line will confirm the re-entry.
Happy trading, trade well, trade safe.
Please read the disclaimer below my signature line. Thanks
dascore
CEO Price at posting:
3.9¢ Sentiment: ST Buy Disclosure: Not Held
