Charting, page-2

As at Tue close.
The trends are all up and there is solid buying so any retracing moves is going to be very short term imo.
The chart shows the three moves in the last 9 periods.
1. 16 – 34 and a 50% retracement to 25.
2 The counter rally 34 - 25 & back up 38% to 28.5
3. Now there is the potential retracement measured from 28.5 – 25 that could bring us back to 26.5 (61%)


As the close was at the days low my expectation from the chart pattern is that a small retracement back to the 26.5 area which corresponds to the 61% line & one of my L/T rising trend line projections.

If it happens I would expect the volume to be low & very short term.