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bickle

304 Posts.

2

09/04/17

15:05

Post #: 23960352
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Originally posted by DrFork ↑

@bickle, re your post from just over a week ago re EMC. Apologies as flat out at work:

https://hotcopper.com.au/posts/23734191/single
Hi @DrFork, if you had the time would you mind going into a bit of depth on your EMC chart for a simpleton like me. I've been buying in the mid .70c area. Are we looking for a close above .86c? thanks mate, enjoy reading your posts.

Obviously price is above that 86c level now as it broke to the upside of the ascending triangle right at the apex. I've added an upper parallel to the lower trend line to form a channel picking the previous high @ 85.5c as the point to construct the channel and we see that price tagged that upper parallel on Friday and pulled back instantly forming a bearish shooting star. This would also coincide with the first warning line of the red fork should I have remembered to draw it. Price likely to drift to the lower channel trendline IMO.

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Thanks mate for taking the time out of your day to reply, appreciate the chart and thoughts.
5 Upvote

0 Great analysis

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