TLS 0.54% $3.69 telstra group limited

Yes fotto, that gap on the hourly chart from a few days ago is...

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    Yes fotto, that gap on the hourly chart from a few days ago is now filled (chart hourly shown).

    And by the way, the gap was not $3.55-$3.59 as I stated in my last post, it was $3.57-$3.59 (my mistake on my last post).

    So down to $3.56 was sufficient to fully close it but we got $3.55 today.

    We now need TLS to bounce from here. The RSI on the hourly chart is just about to touch my 27 line where bounces should come.

    The two supports at $3.51 and $3.52 must not be broken in the next few days. If broken, means wave 5 has not started. Wave 4 has not ended.

    What I don't like and is a concern is the RSI on the daily (lower chat). The RSI was unable to go above 50 on this little bounce we had. This is a bearish signal. Means the sentiment around TLS turned from bullish pre August to bearish post August. Most likely something in the results in August and what Penn said or didn't say that the market doesn't like.

    TLS Gap 3.57.jpg

    TLS Bearish.jpg
 
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