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Resurgam

1,392 Posts.

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23/11/16

01:52

Post #: 20807441
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Originally posted by Jako64 ↑

Price attempted to reverse today, but the effort was thwarted at the breakdown line.........which is not a good look.
A breakdown line is a logical place for price to fail.
Anyway, it is not complete yet, so it could still recover that level, but with all that extra volume today it should have done better no doubt..........
On my weekly chart there are multiple levels of previous support in a broad congestion zone to the left between 1.56cps and 1.78cps, there is a decent chance a line in the sand will be drawn in there somewhere (which also matches up with your PnF count somewhat).

View attachment 347558

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Jako between June and August on your SMN chart is that absorption (where some of the nasty down bars did not follow through and trending higher)?

Also saw PDN's bar today where it got swamped with supply and lost all the initial gains.- makes me think that support of 9.5c is gone tomorrow?

Last edited by Resurgam: 23/11/16
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