Sept Charts, page-30

Daily 23 September

Last week saw support & consolidation around 52 – 57 but cappingaround 57.

Mon & Tue vol were net selling.

Wed was net buying during the run up to 60 but Frid was again netselling after reaching the new high at 61 only to close back at 57.

The spike up to 61 did not have the support at this stage & may havebeen affected by Thu. PH.

So at this stage 57 remains as s/t resistance.

Immediate support is around 53 then down around 48 - 52

I still expect to see the normal retracement patterns occurring whichcould include a significant retracement down to around 45.

A retracement is not guaranteed however & may be limited if or whenit happens due to the current fundamentals as they currently stand & theexpected news in future updates.

The daily looks ready for a rest before the next leg up.

A break above 60 & the next target is up around 67 – 68 on the dailytime frame.

The RSI & Histogram are still showing a bearish divergence which wasapparent last week

L/T holders can relax & ignore the noise on the daily.

Weekly

The weekly chart isalso showing signs of running out of puff & has closed off the highs makingthe indecisive candle but don’t be fooled.

We have Funds onboard now & there are significantly large numbers of loaned / borrowedshares for shorting purposes. The game has changed & people should be awarethat someone will be wanting their shares cheap. Make them pay up or betterstill ignore the noise.

The weekly targetwas reached & the chart shows that we may be at resistance for now.

The weekly vol wassignificantly lower than the prev week & was only a modest net buy vol of 944,095.That indicates strong resistance at this time.

Like the daily, Istill expect the usual patterns will recur & despite the fundamentals &expected good news there will be times when we are not going up but down.

L/t investors donot need to do anything except wait & be rewarded.

Weekly resistance appearsto be around 57.

Support is aroundthe middle of the last big green candle around 53.

The likelihood thatthere will be a retrace that will take the sp down to the 43 – 45 area &the mid range of the first big green candle is also high imo but don’t holdyour breath.

These are excitingtimes but also scary due to the geopolitical situation & volatility in themarkets is increasing.