LTR 2.16% 90.5¢ liontown resources limited

New TA/Charting, page-14179

  1. 6,271 Posts.
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    The only somewhat worrying bit in the standard CS weekly chart is what looks to me like a bearish Hanging Man CS as marked. It usually develops at the top of a trend. The Hanging Man, no matter the colour is a bearish reversal pattern. It signals a market top or a resistance level. In this case I hope it is the $1.195 resistance level, which I mentioned in an earlier post as being the upper level of an earlier TR -Trading Range (Accumulation), the lower level of another TR (Re-Accumulation and in this case also the upper level of a gap. So a lot of possible Resistance , all in the one area.
    Sometimes these areas simply get jumped, where SP simply jumps to another level, almost like using the momentum to Jumping a Creek, which I happened to have explained before.
    Anyway with the LIT giving a bit of a lead next week will be interesting on how things will unfold ...https://hotcopper.com.au/data/attachments/5969/5969177-8040aa29bae4bb3d3423c576a8a35044.jpg

 
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