very close to breaking out??

Just looking closely at NWE's weekly chart (see below) and IMO it looks very very close to breaking out to the upside.

Possibly it will wait for farm-in news but on my reading of the channels this could go move rapidly ahead of this news as early as Monday. Although we closed below 3c on Friday IMO this is a false break down which will be supported by the lower bollinger band and the 50 fib (on weekly closes).

Can't guarantee this of course and it could possibly run down lower for a while despite this, so DYOR.

Also I noted last week there was noticable thinning on the sell side last week up to the last resistance at 3.4/3.5 making a fast run up not so difficult. I think if we can get back above 3.0 it may be on its way.

Happy to hear alternative views - just my thoughts.