Hi For the last 41 weeks the weekly hi-lo candle has been either...

Hi

For the last 41 weeks the weekly hi-lo candle has been either below the 10WMA or touching it.  The 10WMA has been descending on a weekly basis throughout that period. Obviously from the chart its a very bearish call.

In the last week the Hi-lo traded entirely above the 10WMA for the first time for a long time.   See the chart below.  This along chart fact and   with the recent announcements I treated as a bullish sign and got in at 1.96. There are times this sort of weekly chart movements give a false signal , A dead cat bounce follows. But thats usually partway in the downtrend.

Confirmation this bullish call is firstly, a number of following weeks hi-lo not being entirely below the 10WMA,  Secondly also moving to and then above the 40WMA (which is equal to the 200Day moving average) and the support-resistance line I drew at 2.35.

Once these things happen I believe we will be on a very good run upwards

Good luck folks.

cheers Lies


https://finance.yahoo.com/chart/SYR...oYXJ0TmFtZSI6ImNoYXJ0In19fSwicmFuZ2UiOnt9fQ==