Chart update

Updated daily chart below with a number of bullish features.

We initially had two dominant up days from 9c to 19c or so and then formed a flag-like continuation pattern that lasted for 4 or 5 days (and retraced into the top half of the initial upward candle).

We are now holding support at 12.5c, which has been tested about 8 times now during this upward run.

It looks to me like we are now forming a ‘rounding bottom’ pattern (see last 4 days) where the momentum of the retrace slows (gets less steep). This is occurring on lower volume as well, which is positive.

On balance, I think the probability is for the next leg up to commence in coming days/weeks. Will need to break resistance at 19c for uptrend to continue.