Shorting at 1.8c???? Gutsy, lets see how it plays out.1. Weekly...

Shorting at 1.8c???? Gutsy, lets see how it plays out.

1. Weekly chart, Morning Star bottom reversal triggered last Friday.
2. Daily chart, classic rounding bottom playing out. Target 2.2c
3. RSI on weekly will trigger a buy this week if price closes at 1.7c or higher.
4. Daily RSI at levels not seen since Dec 2019. Bullish and with a lot of room to move to the upside before getting to overbought levels.

I will go out on a limb. I have 3 possible short term targets. 2.2c, 2.4c to 2.5c.

2.2c completes the rounding bottom pattern of which any retracement to 1.5c would still be bullish. Rounding bottoms in FAR historically fail.

2.4c is 23.6% fib retracement level from the July 2019 high

Gap between 2.2c & 2.5c which will act as resistance. Gap closes at 2.5c. Good shorting area with stops above 2.6c

Close above 2.5c is bullish. Possible target whilst price trades above 2.5c is 3.5c.

CNE up 66% from lows.

S&P 500 looks to have put in a bottom of some sort and EW chartist have a target in the 3000-3200 range so good for overall market.