weekend charting 13/14 feb, page-40

Hi sharks, the CPL chart really looks good.

One point of difference makes me more bullish.
I feel it has well and truly broken out of its corrective downtrend channel.
It bounced off the 50% fib line where it met the solid uptrend line and has now hovered above the 38.2% line while the rest of the world faltered.

What really stands out for me is the abundance of bearish black candles at the top signalling the turnaround.
More recently the candles are giving mixed signals with a combination of long upper tails and long lower tails.
The best way to view these recent candles is as stubbornness against the prevailing world trend.

10cents