I know some find it hard to comprehend but the 50%-62% retraces have been happening all the way through here 9 out of 10 times in fact..(a couple even deeper than 62%)...this is a normal function of up trends....I remember the drop to 62% Fib 13.5c on 9 July in particular (I think Sigma will remember that one too being the biggest heckler at the time!) but it happened and then up she went to new highs...now this latest retrace is obviously a bigger one which is attempting to retrace the larger long term trend..( HnS pattern on this scale shows a major top, trend reversal and retrace) the 50% and 62% retrace levels are roughly 14.5c and 12c..now obviously no`one can say for certain that these levels will get hit but the odds highly favour it happening at some point before reaching the trendline shown in the previous chart.
QPM Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
