Today's chart & trading, page-2153

LYC gave up more than yesterday's gain losing 6c or -2.31% closing at 2.54.

For a change, let's look at the 30 minute chart.

The major features are:

• Yesterday and today's peaks failed to penetrate the 61.8% Fibonacci level. It failed to close above the mid-trend line (purple dashes). It also dropped below a very short term trend line (orange). This is a short term negative.
• SP slid all the way to a Doji bar resting on the support line at 2.54 exactly. It marks indecision from here.
• The last 2 troughs at 2.54 and 2.51 were supported by the downtrend line (orange dots)

If the slide continues, it has the following supports:

• The bottom of the uptrend channel at around 2.52,
• 50% Fibonacci level at 2.47 which would offer a much stronger support.

The no. of shorts are on the increase. The short term Stochastic has already crossed to the down side. It's not confirmed until the longer term Stochastic is also heading down. DYOR