SBR ... CHART, page-45

Nice bounce today on promising news. From a TA perspective this bounce has come from a Double Bottom (3.1c), just a tick above the initial range April high(3c) which is the second time it has been tested(last in late July). This bounce level also represents the 76.4% Fib retrace(2cL to 6.8cH range).

Early days still but very likely the AP Roadmap I have shown is going to prove useful. I note today's high(5.5c) was right at the median tyne(MT) of this Bullish Pitchfork. This level was just one tick above the 0.618% retrace from the 6.8cH to 3.1cL range so fair enough. Today's vol, so far, whilst highish is nowhere near the vol of that bearish Candle day when we made our 6.8cH so more filtering may still need to happen from near these levels. Its good to see the RSI back above the 50% level but the SSTO is rather highish already. We need to see these maintain their enthusiasm.