SPQ chart, page-2661

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jeremy8888

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26/10/23

21:33

Post #: 70563775
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Originally posted by DavidW: ↑

Bruham, the price may wobble around a bit, but looking at the probabilism the balance lies with a bottom. Price is tracking a major trend line on the up and broken out of short term declines a tad. If I was looking at money flow then the Weinstein indicator on the daily has just turned blue to indicate a return to phase 1 accumulation. The Weinstein indicator is best used on the weekly chart, so I would use that for confirmation. A brave man to sell, with drilling in progress where the wall rock is already economically viable. Probability is not certainty, its about risk v reward.

I also noticed a triple bottom on the traditional point and figure chart which takes out market noise.

Personally, I would like to see greater volume, but I guess that is result dependent in the current bear market. A Melbourne Cup rate rise by the Reserve Bank will reduce liquidity of retail, so I imagine the opportunity lies with the bigger players to accumulate given many stepped out of the market some months ago and will step back into the critical mineral space. Albo, in the USA is cementing development of critical minerals. I wonder how his Chinese visit will go? USA entry into our market is highly likely. I note Morgan Chase snapped up 33 million SYR in the graphite space which compliments copper and nickel etc. Market momentum should build.

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@DavidW. as a long time follower of you charts, I wondered whether you could let me know what too you use to produce the Weinstein indicators - much appreciated in anticipation.

SPQ Price at posting: 2.3¢ Sentiment: None Disclosure: Held
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0 Great analysis

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