After yesterdays bearish candle I was expecting the price to drop down to 2c and then hopefully form a bullish Pin Bar and close around 2.4c So today's open at 2.8c being above the 200DMA is a nice bullish surprise, and then going onto a high of 3.2c before settling at 3c formed a nice inside bar.
This week's weekly bar though bearish, with today's bullish move, also made the SP end the week above the 20WMA. (Good Oils Buy at 2.4c was the buy of the week) Another good sign. Will be very interesting to see how next week finishes.
Next week will see the end of this months Bar. IMO If SP finishes below the 2c mark forming a Bearish Pin Bar, then it doesn't bode so well for next month. If we finish around the 3c then it's showing the market is still very indecisive and SP could go either way. If Monthly Bar finishes 4c or above then we definitely have a chance of testing the 6c mark in April.
DYOR and GLTAH
9SP Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held