Hi Kit, I just don't like this weekly chart as it just looks bearish any way you look at it, especially with that drop below 30. Last time we hit 26.5 we were saved by that MIN ann. This time we never went that low (which was good) but we need to break 30 at least but even then there's those resistance lines (those 2 lines drawn) the lower one support which touched and now the upper one which will be resistance and the one to beat so it's on now.
Failing that (30 or that 33 area) then this chart points to 20c. Of course some good news will change that eg. farm in partner but in the absence of any that's what i see.
As i said earlier any way, although the weekly MACD + divergence not made yet ( looks to be a + one so far) and so with the daily + hourly we should be going up for next swing, and at this stage can't say that it will be strong enough to break that 33 area but another positive also that i keep forgetting is that gap at 36.5c which WILL be reached at some stage - hopefully in this swing :]
EGO Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
