LCL 0.00% 1.0¢ lcl resources limited

updated chart request, page-22

  1. 1,996 Posts.
    Acouch - I like your fork set. I originally abandoned the green fork you had because I couldn't get any exact touches, going instead for a Point of origin on the 50 fib at the gap - but its interesting where price has landed - right at the convergence of all 3 forks. Nice. And I like how the overshoot between your green median line and lower tine overshoot by almost the same amount. I think I'll add your green fork to mine as an alternate argument.

    Being a pitchfork lover, I can't argue with you about the lower tine acting as support - but I would argue that SP would have to first fight support points at the fibs going down - and I'm not convinced that the battle for the 40c is over just yet.

    I also think it highly unlikely that other fundamental buyers would wait for SP to hit 27c before snatching a bargain. I certainly wouldn't. But thats the fundamentalist in me - not the TA.

    Nice chart.



 
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