4DS chart, page-46

I think we would all agree that the Price action over the last two weeks has been excellent.  I was thinking that the SP may pause at the 200MA and the level of the High Volume Close of 03/05 at 5.7c, but it just drove straight through that level with only a minor pause around the 5.5c level.

So I started to wonder how much higher the SP can go on the current impulse move.  I drew a blue arrow on the chart shown below starting with the first impulse move which commenced back on 17/10/2017.  I copied the arrow and moved it to the following two impulse moves with the last move completing at the high on 19/02.  The same arrow was then copied and moved to the current impulse move.  So there is no surprise that the current move has paused at 7.1c.  Will the move go higher?  My feeling is yes.  The WaveTrend indicator is still moving up and has a way to go before it is considered overbought, and the next significant resistance level is around 7.9c.  Here’s hoping the SP keeps going higher.



Good luck everyone – DYOR – Wilf