Has Consolidated tightly & now trying for a push above the...

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YLJ

819 Posts.

870

06/04/22

15:00

Post #: 60690189
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Originally posted by YLJ: ↑

DYL chart is one of the most fabulous examples of Classical Chart Patterns in play over the last
few years. I won't go into them all but anyone with an interest in this method of charting will get
what I mean.
Of relevance to the current situation is the Falling Wedge on the Weekly chart with a target of
1.375 that is in play. Part of this Wedge, together with what follows forms a possible H&S
continuation that has been trying for a breakout. The measured target for this pattern is
identical to that of the Wedge.
I was long position on VMY on Thursday (more or less the same Inverse H&S pattern can
be seen across quite a few of the ASX Uranium plays.) I was about to close it out on
Friday but decided to give it a chance to hold Friday's low. That landed me swept up
in this takeover and this now becomes the chart of relevance.
A break of the low of the right shoulder @0.875 would invalidate this pattern and imply
downside pressure. Still think it has a chance for the upside break-out based on the
overall picture. Sure does not hurt that DYL will now be one of the world's largest
Uranium plays...
GLTA

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Has Consolidated tightly & now trying for a push above the boundary and coming off the weekly 5 SMA (often an ingredient for better breakouts). Volume only slightly above 30d average (110%) but 127% above 14d average with an hour left of trading.
Finally looking at a close above the neckline.
Uranium Futures at new highs:

DYL Price at posting: $1.09 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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