MOL 0.00% 6.9¢ moly mines limited

50% retracement, page-9

  1. 795 Posts.
    Thanks nana

    The chart is getting a little busy but lines all remain relevent.
    I have drawn in Gray fibs to capture the last run which formed the lower double top and gave me the 2nd point to draw the Ascending tri.

    Hard to see but the retrace has found support/bounced off the 50% on this gray fib too. Other supports in the near vicinity are the Median tine of the green fork and this low could be the anchor for the lower side of the Ascending tri.

    I have no idea why MOL should be in a position to potentially break up hard but it looks that way to me.
    Fundamentals are really not yet on its side... TA shows a different potential atm IMO.
    The rising trigger may be in for another test, its resistance has already proven to be breakable...

    Target if the triangle is broken will be 1.85.


    MOL ascendinf Tri jan 11 2
 
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