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$1.57 silver lake resources limited

SLR Chart, page-1438

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deserthead

515 Posts.

80

21/12/23

08:54

Post #: 71561200
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Originally posted by Pointyfigures: ↑

If you don't ask, you don't get.
The short term chart looks fine. On and up, not too extended from the trend. Higher lows, higher highs.
Since SLR broke out of consolidation almost 12 months ago, been a choppy chart.
The recent buy signal (red at 1.02) is a good sign. The last 2 reds have been close to intermediate lows. The previous 3 were sells. Indication of a bull trend.
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On the longer term chart, in the process of breaking out. A higher high with 1.22. Also needed to begin setting a target.
A reversal from here is dangerous as a double top will form and the breakout is false. Taking over 2 months to break out.
A reversal would require a pull back to 1.00 so not expected though sentiment been behaving oddly since October.
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I don't think there's much to be concerned about. The whole sector is in the early stages of a multi-year bull market with the 60 year cycle rising into it's first major peak in early 2028. That will not be the THE top. The major top isn't until 2040

Last edited by deserthead: 21/12/23

SLR Price at posting: $1.19 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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