Hi folksUp very early so I thought I would take a look at the...

Hi folks

Up very early so I thought I would take a look at the charts. My emphasis is not on the daily charts, however they are not to be ignored. 2 green daily candles in 3 weeks of red candles is very unusual.

A long view seems to suggest that there is a support waterline forming around the mid 3.20’s It has been happening to ALB for some time.

So this suggests an upcoming bounce ahead. An occasional dip or dive below 3.20 would not be a surprise, but a recovery to the waterline in the following days would back up my waterline theory.

Bounces off waterlines is very common ( almost manditory ) so I would not be at all surprised to see the SP again up to the 3.50-3.60s soonish. But DYOR.

Overall my weekly charts are still bearish and I am not at all interest in trading off the daily charts.

My suggested waterline started forming last Dec and after a bounce or two would not be surprise by a leak downwards. Possibly around the same time as ALB finally leak
s below its waterline.

My concentration is focused on the next quarterly report, especially the $US prices for shipped Spod ( fact not speculation) and the $AUD revenue achieved for the quarter. Especially interested to see if this revenue is above or below $AUD 200m despite increased shipments.

Just the way I deal with the markets so that I am not surprised by what plays out, So as always DYOR

cheers Lies