SDL 0.00% 0.6¢ sundance resources limited

This is a SDL chart where 3 days of data are combined into 1...

  1. 249 Posts.
    This is a SDL chart where 3 days of data are combined into 1 bar...the last bar will complete with today's trade.

    The RSI is possibly showing some abatement in the momentum down but it is by no means oversold yet...
    The MACD is still diverging from its moving average and is not yet oversold either...
    This suggests no end in our correction yet...
    My possible retracement targets are on the chart...

    Next is the daily chart:



    Here we can see the RSI & MACD momentum oscillators are getting oversold but are still diverging from their MA's...
    Volume has been rising into this oversold daily setup as well...
    So we could be due for a 1-3 day retracement off current lows (42.5c today and good bounce in place intraday)...
    I'll be wanting some evidence of abating momentum to get bullish ST.
    BTW; my guess is we are seeing the acceleration into the lows of this correction now, but I don't trade my guesses!
    Cheers,
 
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