as a very part time/amateur chartist, it would appear to me that...

as a very part time/amateur chartist, it would appear to me that there are some fairly promising price signals unfolding for ERN.

for example, note the following indicators:

1. a base has been building at 40c since Dec 3rd

2. the daily RSI is showing positive divergence (ie price has tracked lower but RSI is making higher lows) - a positive sign

3. yesterday's close was the first time since since Nov 23rd where the price has managed a close above the 13 day moving average. if the 13 day m.a. crosses the 35 day m.a then could well have lift off - this may unfold as soon as the next few trading days - i will be keeping an eye on it

4. the short term downtrend resistance in place since the high on Nov 20th has been pierced to the upside

5. the MACD looks like it is turning up

6. the Bollinger bands are tightening up

7. the share price has gravitated back to (but still sits above) the 200 day moving average.

note also that there was an off market trade of 500,000 shares and options put thru last week at near bottom prices - sometimes an early indicator of a share price trend having reached its conclusion.

in a nutshell, i think we're looking at a price reversal in the short term.

i would welcome any comments/feedback from other more savvy chartists.i am a holder of ERN and currently sporting a small paper loss but will continue to hold this cheap Namibian uranium play with confidence (along with BMN & EXT).

of course i might be wrong on all counts so, as always, please DYOR

cheers