Gday Tren,Hard to tell. Critical juncture is the answer. Its...

Gday Tren,

Hard to tell. Critical juncture is the answer. Its broken a significant trendline and failed support, however its sitting on another support and a basic area of intersecting support.

Bottom line is it needs to hold and bounce off these levels. Moment it does there is definitely a trade in this imho. Or conversely the market might be in for another raid on long leveraged stop losses. I posted earlier the shaded zone of false break so SGR does a have a history of false breaks whether will transpire on this occasion or not yet to be seen.