Current trend of SP & where to, near term

Hi Ex – (Excitable2) – and other chart tragics -

Since my last post 100 years ago, on the previous design of the “all” Threads pages, I’ve noted, Ex, since coming out of the woodwork lately - from your posts on the Charts Threadpages for 88E, that you are showing your LSE chart pics rather than those for the ASX, your last post being

https://hotcopper.com.au/posts/37652503/single

IMO most Oz HC posters would prefer to see Oz’s ASX chart pics posted by you rather than LSE ones - given not only that they :

- would be likely to be only trading on the ASX, but

- would welcome back your excellent presentations and analysis you obviously have the topnotch nous to compile, no matter the source country’s charts.

For forming my trading decisions (& certainly not as a DT (day-trader), I’ve preferentially used Candlestick rather than OHLC charts for decades, because they not only indicate the short-term trend of up or down trading activity, for whatever time period you choose ( I like Daily, x 15min intervals) but also for custom longer-term periods which one can play around with on Commsec’s Cha rt pages, rather than, I guess, what most TA guys do, and only use their online broker’s webpages fixed time periods.

So in this regard, I today devised a “Custom” period chart – on my Commsec page (which I imagine can also be devised on other posters’ online brokers’ websites) going back to March ‘18,

due to the fact that only today did 88E’s SP breakout above the 2.4 peak reached on 07 Nov last,

to see what prior “resistance” there was above 2.4, and established that that there was only a smidgeon of it until way back in early-to-late May ’18, between 3.9 & 4.1-4.2c.

Other chart tragics are welcome to express their views on this point, either way.

So given the almost similar # of tradeable shares on issue, now, as back then, I see 3.9c as the next resistance level, above where we are today.

But, also being the devil’s advocate that I am, there could also be the contrary view that this time it won’t take as long to get there as it did to come down from there, because there’s probably a lot more L/Term holders now, not willing to sell out in the meantime, till they get back to B/even, or better, above 3.9c, or until just that level is reached. Best regards Guata.