Sept charts

Daily 1 Sep
Positives
Stoch 5 is above the line & in the bullish zone above 50.
Stoch 14 is above its sig line & rising
MACD is above the sig line & rising
Histogram is above zero & rising

Negatives
Stoch 14 is still in the bearish zone below 50
Stoch 5 is very wide

Outlook
Shorter’s still active, Wed & Thu were quite big numbers but that had little impact on those days, maybe they were just there for liquidity.

We made a series of small higher lows but failed to make a higher high & remain in a resistance zone.

My daily modes show conflicting signals which may lead to a test around 28 I don’t see enough volume at this stage to drive the sp further if at all without a catalyst.

Support remains around 23 – 24 & resistance is around 26 & up to the top of the small rising channel.


Weekly.
Positives
Stoch 14 is above its sig line & rising
Histogram is rising

Negatives
Stoch 14 is in the oversold area below 20
MACD is below its sig line & still trending down
Histogram is below zero

Outlook
Vol was again well below the 5 week avg & was a modest net buying of around 900,000 down on the prev weeks low net buying.
Shorts again played a large part in holding the sp down
Support is 23 – 25 and resistance is 25 – 28.
I can’t see the pattern changing markedly in the next week & the sp could go either direction at the whim of the BEOT.
Puna is doing a great job making the bacon.
How long will the govt. hold us to ransom before we bring it home

Monthly.
Outlook
At the end of Aug the chart remained bearish but with a possible support being confirmed around 22- 22.5.
With the MACD & Histogram both trending down strongly & the Stoch entering the oversold area it shows a gloomy outlook for Sep but that of course could change to the upside quickly with the right announcements.
It is also highly likely that we may retest support again before making any semblance of a recovery.

Resistance for the monthly is similar to the other time frames & is initially around 27 – 28.
Meanwhile the white powder is pouring off the conveyor belt into those bags & stockpile in the back of the shed. $$$$$$$$$$$